ARC Resources (TSE:ARX) Price Target Cut to C$28.00 by Analysts at Jefferies Financial Group

ARC Resources (TSE:ARX) had its price objective reduced by Jefferies Financial Group from C$30.00 to C$28.00 in a research note published on Monday,BayStreet.CA reports.

A number of other brokerages have also commented on ARX. Raymond James Financial lowered their price objective on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Scotiabank cut ARC Resources from an “outperform” rating to a “hold” rating and decreased their target price for the stock from C$36.00 to C$30.00 in a research report on Friday. Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a report on Monday, October 27th. CIBC dropped their price target on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Finally, National Bankshares decreased their price objective on shares of ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$32.41.

ARC Resources Trading Up 2.6%

ARC Resources stock opened at C$24.50 on Monday. ARC Resources has a one year low of C$22.63 and a one year high of C$31.56. The company’s fifty day moving average price is C$25.49 and its two-hundred day moving average price is C$27.08. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The company has a market capitalization of C$14.10 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.29 and a beta of -0.01.

ARC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. ARC Resources’s dividend payout ratio (DPR) is presently 32.34%.

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.