ARC Resources (TSE:ARX) Raised to “Moderate Buy” at Cormark

Cormark upgraded shares of ARC Resources (TSE:ARX) to a moderate buy rating in a report released on Monday, Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group increased their price target on ARC Resources from C$27.00 to C$29.00 and gave the company a strong-buy rating in a research note on Friday, August 2nd. Jefferies Financial Group cut their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a buy rating for the company in a research note on Monday, September 16th. UBS Group reduced their target price on shares of ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. ATB Capital raised their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. Finally, Scotiabank upped their target price on ARC Resources from C$33.00 to C$34.00 in a research report on Friday, July 12th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of C$30.46.

ARC Resources Stock Down 2.0 %

ARX stock opened at C$22.46 on Monday. The company has a market cap of C$13.39 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a twelve month low of C$19.02 and a twelve month high of C$26.45. The business has a 50 day moving average price of C$23.83 and a two-hundred day moving average price of C$24.42. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last issued its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. The company had revenue of C$1.15 billion for the quarter, compared to analysts’ expectations of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. Analysts anticipate that ARC Resources will post 3.2027972 EPS for the current fiscal year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.03%. ARC Resources’s payout ratio is 35.23%.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.