ARC Resources Ltd. (TSE:ARX) Receives Consensus Rating of “Buy” from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have been assigned an average rating of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$30.46.

A number of research firms have commented on ARX. UBS Group cut their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. ATB Capital lifted their target price on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. Desjardins boosted their price objective on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. Finally, Scotiabank boosted their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday.

ARC Resources Price Performance

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 has a 1 year low of C$19.02 and a 1 year high of C$26.45. The company has a market capitalization of C$13.64 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.29 and a beta of 1.26. The firm’s fifty day moving average price is C$23.97 and its 200 day moving average price is C$24.47.

ARC Resources (TSE:ARX) last posted its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. The business had revenue of C$1.15 billion during the quarter, compared to the consensus estimate of C$1.03 billion. On average, sell-side analysts expect that ARC Resources will post 2.7255139 EPS for the current year.

ARC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of ∞. The ex-dividend date was Friday, September 27th. ARC Resources’s dividend payout ratio (DPR) 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.