ARC Resources Ltd. (TSE:ARX) Receives Average Recommendation of “Hold” from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$30.35.

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group downgraded shares of ARC Resources from a “buy” rating to a “hold” rating and raised their target price for the company from C$31.00 to C$32.00 in a research note on Tuesday, April 28th. Royal Bank Of Canada increased their price objective on ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Capital One Financial cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Raymond James Financial boosted their target price on ARC Resources from C$29.00 to C$32.80 in a research note on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce lowered ARC Resources from a “neutral” rating to a “tender” rating and upped their target price for the company from C$29.00 to C$32.00 in a research report on Tuesday, April 28th.

ARC Resources Price Performance

ARX opened at C$32.98 on Friday. The firm has a market capitalization of C$18.68 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.29 and a beta of -0.36. The company has a debt-to-equity ratio of 43.61, a current ratio of 0.87 and a quick ratio of 0.42. The business’s 50-day moving average is C$31.22 and its two-hundred day moving average is C$28.42. ARC Resources has a 1 year low of C$21.14 and a 1 year high of C$33.16.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 earnings per share for the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. The business had revenue of C$2.16 billion for the quarter. Research analysts anticipate that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.