Brokerages Set ARC Resources Ltd. (TSE:ARX) PT at C$30.96

Shares of ARC Resources Ltd. (TSE:ARX) have been assigned an average rating of “Buy” from the eleven analysts that are covering the company, Marketbeat reports. Ten research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$30.96.

ARX has been the subject of several research analyst reports. TD Securities upped their price objective on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group cut their price target on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a report on Monday, September 16th. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. CIBC increased their target price on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. Finally, Scotiabank lifted their price target on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th.

ARC Resources Stock Performance

ARX opened at C$25.71 on Friday. The business has a 50 day moving average price of C$23.74 and a two-hundred day moving average price of C$24.37. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The company has a market capitalization of C$15.33 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 1-year low of C$19.02 and a 1-year high of C$26.45.

ARC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.64%. The ex-dividend date was Friday, September 27th. ARC Resources’s payout ratio is 35.23%.

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.