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

ARC Resources Ltd. (TSE:ARX – Get Rating) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is C$20.73.

Several equities research analysts have weighed in on the stock. Scotiabank raised their target price on shares of ARC Resources from C$23.00 to C$26.00 in a research note on Tuesday, March 8th. Stifel Nicolaus lowered their target price on shares of ARC Resources from C$25.25 to C$24.75 in a research note on Friday, May 6th. Raymond James set a C$22.00 target price on shares of ARC Resources and gave the company an “outperform” rating in a research note on Friday, May 6th. National Bankshares lowered their target price on shares of ARC Resources from C$24.00 to C$21.00 in a research note on Thursday, April 14th. Finally, Cormark raised their price target on shares of ARC Resources from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a report on Monday, April 18th.

In related news, Senior Officer Ryan Victor Berrett sold 13,198 shares of the firm’s stock in a transaction on Monday, May 30th. The shares were sold at an average price of C$19.54, for a total transaction of C$257,854.61. Also, Senior Officer Larissa Marianne Conrad sold 10,000 shares of ARC Resources stock in a transaction on Monday, June 6th. The shares were sold at an average price of C$20.00, for a total transaction of C$199,982.00. In the last three months, insiders have sold 110,893 shares of company stock valued at $2,228,663.

TSE ARX opened at C$18.48 on Friday. The company has a debt-to-equity ratio of 43.20, a quick ratio of 0.38 and a current ratio of 0.41. The firm’s 50 day moving average price is C$18.39 and its 200-day moving average price is C$15.48. ARC Resources has a 52-week low of C$7.51 and a 52-week high of C$22.88. The company has a market cap of C$12.58 billion and a PE ratio of 24.41.

ARC Resources (TSE:ARX – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The oil and gas exploration company reported C($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.57 by C($0.67). The firm had revenue of C$2 billion for the quarter. On average, analysts forecast that ARC Resources will post 2.7087706 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, June 29th. This is a boost from ARC Resources’s previous quarterly dividend of $0.10. ARC Resources’s dividend payout ratio (DPR) is 43.06%.

About ARC Resources (Get Rating)

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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