ARC Resources Ltd. (TSE:ARX) Receives Average Recommendation of "Buy" from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX - Get Free Report) have earned a consensus rating of "Buy" from the nine analysts that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$33.25.

ARX has been the subject of several recent analyst reports. CIBC lowered their price objective on shares of ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th. Royal Bank Of Canada increased their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. ATB Capital upped their price objective on shares of ARC Resources from C$31.00 to C$33.50 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. National Bankshares increased their price target on shares of ARC Resources from C$33.00 to C$35.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Finally, 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 report on Thursday, July 3rd.

ARC Resources Price Performance

TSE:ARX traded up C$0.14 during midday trading on Wednesday, hitting C$26.88. The company had a trading volume of 80,289 shares, compared to its average volume of 1,871,628. ARC Resources has a 52-week low of C$21.44 and a 52-week high of C$31.56. The stock's fifty day moving average price is C$28.94 and its 200-day moving average price is C$27.32. The company has a market capitalization of C$15.82 billion, a PE ratio of 14.18, 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 1.14 and a debt-to-equity ratio of 30.05.

ARC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a yield of 2.83%. ARC Resources's payout ratio is 35.86%.

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.