ARC Resources Ltd. (TSE:ARX) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• ARC Resources Ltd. has received a consensus rating of "Buy" from seven analysts, with an average 12-month price target of C$33.13.
• The company recently declared a quarterly dividend of $0.19, with an annualized yield of 3.0%.
• ARC Resources has a market capitalization of C$14.86 billion and a PE ratio of 10.10, indicating a relatively low valuation compared to its earnings.

ARC Resources Ltd. (TSE:ARX - Get Free Report) has been given an average recommendation of "Buy" by the seven analysts that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$33.13.

ARX has been the topic of a number of recent analyst reports. Raymond James Financial decreased their target price 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. CIBC reduced their price objective on shares of ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. National Bankshares decreased their price objective on shares of ARC Resources from C$38.00 to C$33.00 and set an "outperform" rating on the stock in a report on Wednesday. BMO Capital Markets raised their target price on shares of ARC Resources from C$32.00 to C$33.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Finally, Scotiabank reduced their target price on shares of ARC Resources from C$38.00 to C$36.00 in a report on Thursday, October 9th.

ARC Resources Price Performance

Shares of TSE ARX opened at C$25.55 on Friday. The business's 50 day moving average price is C$25.76 and its two-hundred day moving average price is C$27.09. The company has a market cap of C$14.86 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.29 and a beta of 0.13. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. ARC Resources has a twelve month low of C$22.50 and a twelve month high of C$31.56.

ARC Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.0%. ARC Resources's dividend payout ratio (DPR) is presently 29.25%.

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.

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