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

Shares of ARC Resources Ltd. (TSE:ARX) have earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$30.96.

A number of analysts have commented on the stock. CIBC increased their price target on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. National Bankshares lifted their price target on ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. TD Securities upped their price objective on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cormark upgraded ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. Finally, Scotiabank increased their price target on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th.

ARC Resources Trading Down 0.7 %

Shares of ARC Resources stock opened at C$24.78 on Friday. The stock has a market cap of C$14.77 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.29 and a beta of 1.26. 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 12-month low of C$19.02 and a 12-month high of C$26.45. The business’s 50 day moving average is C$23.74 and its 200-day moving average is C$24.37.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Friday, September 27th. ARC Resources’s dividend payout ratio is currently 35.23%.

ARC Resources Company Profile

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.