ARC Resources Ltd. (TSE:ARX) Given Average Rating of “Moderate Buy” by Brokerages

ARC Resources Ltd. (TSE:ARX) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$29.00.

A number of analysts have recently commented on ARX shares. UBS Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Roth Mkm raised shares of ARC Resources to a “strong-buy” rating in a research report on Friday, December 19th. Jefferies Financial Group lowered their price target on shares of ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$27.50 to C$25.50 in a research note on Monday, February 9th. Finally, National Bank Financial cut ARC Resources from an “outperform” rating to a “hold” rating and decreased their price objective for the company from C$27.00 to C$26.00 in a report on Friday, February 6th.

ARC Resources Stock Up 1.1%

Shares of ARC Resources stock opened at C$29.12 on Monday. The firm has a market cap of C$16.94 billion, a PE ratio of 13.30, a P/E/G ratio of 0.29 and a beta of -0.06. The business’s 50 day simple moving average is C$25.33 and its 200 day simple moving average is C$25.35. The company has a debt-to-equity ratio of 58.50, a quick ratio of 0.42 and a current ratio of 0.70. ARC Resources has a 52-week low of C$21.14 and a 52-week high of C$31.56.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. The firm had revenue of C$1.58 billion during the quarter. ARC Resources had a return on equity of 15.52% and a net margin of 20.99%. On average, analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.84 annualized dividend and a yield of 2.9%. ARC Resources’s dividend payout ratio is 35.62%.

About ARC Resources

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.