ARC Resources Given Consensus Recommendation of “Buy” by Analysts (TSE:ARX)
Shares of ARC Resources (TSE:ARX) have earned an average recommendation of “Buy” from the thirteen analysts that are presently covering the company, Analyst Ratings Net reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$35.22.
Shares of ARC Resources (TSE:ARX) opened at 31.66 on Wednesday. ARC Resources has a 1-year low of $24.71 and a 1-year high of $33.68. The stock has a 50-day moving average of $30.56 and a 200-day moving average of $31.02. The company has a market cap of $10.021 billion and a P/E ratio of 35.94.
ARC Resources (TSE:ARX) last released its earnings data on Friday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.14. Analysts expect that ARC Resources will post $1.30 EPS for the current fiscal year.
The company also recently announced a dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.0918 per share. The ex-dividend date is Wednesday, August 27th.
A number of analysts have recently weighed in on ARX shares. Analysts at National Bank Financial upgraded shares of ARC Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 7th. Separately, analysts at TD Securities upgraded shares of ARC Resources from a “hold” rating to a “buy” rating in a research note on Thursday, July 31st. They now have a C$38.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock.
ARC Resources Ltd. (TSE:ARX) is a Canada-based conventional oil and gas company.
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