ARC Resources Ltd. (TSE:ARX) Given Consensus Rating of "Buy" by Brokerages

Key Points

• ARC Resources Ltd. has received a consensus rating of "Buy" from eight analysts, with an average 1-year price target of C$33.33.
• The company recently announced a quarterly dividend of $0.19 per share, yielding approximately 2.9% annually.
• ARC Resources has a market capitalization of C$15.13 billion and produces 163.6 thousand barrels of oil equivalent per day, with proven and probable reserves of around 879 million boe.

ARC Resources Ltd. (TSE:ARX - Get Free Report) has been assigned an average recommendation of "Buy" from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$33.33.

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of ARC Resources from C$32.00 to C$33.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Raymond James Financial reduced their price objective on shares of ARC Resources from C$35.00 to C$33.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th.

ARC Resources Price Performance

ARX opened at C$26.01 on Monday. ARC Resources has a one year low of C$21.68 and a one year high of C$31.56. The stock has a market capitalization of C$15.13 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.29 and a beta of 0.29. 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's 50 day simple moving average is C$26.32 and its 200-day simple moving average is C$27.36.

ARC Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.9%. ARC Resources's payout ratio is presently 29.25%.

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.

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