ARC Resources Ltd. (TSE:ARX) Given Consensus Rating of “Hold” by Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$29.98.

A number of research analysts recently commented on ARX shares. Royal Bank Of Canada dropped their target price on shares of ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Capital One Financial downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Raymond James Financial increased their target price on shares of ARC Resources from C$29.00 to C$32.80 in a research report on Tuesday, April 28th. Canaccord Genuity Group downgraded shares of ARC Resources from a “buy” rating to a “hold” rating and increased their target price for the company from C$31.00 to C$32.00 in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th.

ARC Resources Trading Down 0.8%

Shares of TSE:ARX opened at C$31.69 on Friday. ARC Resources has a 52 week low of C$21.14 and a 52 week high of C$32.40. The company’s 50 day moving average is C$29.32 and its two-hundred day moving average is C$26.81. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 43.61. The company has a market cap of C$17.92 billion, a PE ratio of 12.53, a P/E/G ratio of 0.29 and a beta of -0.34.

ARC Resources (TSE:ARX) last posted its earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 EPS for the quarter. The firm had revenue of C$2.10 billion for the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. Equities analysts predict that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, March 31st. ARC Resources’s dividend payout ratio (DPR) is 31.62%.

ARC Resources Company Profile

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.