ARC Resources’ (ARX) Strong-Buy Rating Reiterated at Raymond James

Raymond James reiterated their strong-buy rating on shares of ARC Resources (TSE:ARX) in a report released on Thursday morning, BayStreet.CA reports. They currently have a C$12.00 price objective on the oil and gas exploration company’s stock.

A number of other brokerages have also issued reports on ARX. CIBC lowered their target price on shares of ARC Resources from C$13.00 to C$11.00 in a research note on Thursday, July 18th. Royal Bank of Canada lowered their target price on shares of ARC Resources from C$12.00 to C$10.00 in a research note on Thursday, July 18th. National Bank Financial boosted their target price on shares of ARC Resources from C$10.00 to C$10.50 and gave the company an outperform rating in a research note on Tuesday, July 16th. Tudor Pickering & Holt reissued a hold rating on shares of ARC Resources in a research note on Friday, June 7th. Finally, BMO Capital Markets lowered their target price on shares of ARC Resources from C$12.00 to C$10.00 in a research note on Friday, June 14th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of C$10.91.

ARX stock traded down C$0.29 during mid-day trading on Thursday, reaching C$6.65. 1,402,980 shares of the stock traded hands, compared to its average volume of 2,175,894. The company has a debt-to-equity ratio of 26.10, a current ratio of 1.38 and a quick ratio of 0.95. ARC Resources has a one year low of C$5.98 and a one year high of C$15.13. The firm has a market cap of $2.35 billion and a PE ratio of 22.93. The company has a 50-day simple moving average of C$6.50.

ARC Resources (TSE:ARX) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported C($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.10 by C($0.25). The business had revenue of C$329.30 million for the quarter, compared to analyst estimates of C$339.30 million. As a group, equities analysts anticipate that ARC Resources will post 0.34 earnings per share for the current year.

The business also recently announced a jun 19 dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.05 per share. This represents a dividend yield of 8.63%. The ex-dividend date of this dividend was Thursday, June 27th. ARC Resources’s dividend payout ratio is currently 206.90%.

ARC Resources Company Profile

ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Analyst Recommendations for ARC Resources (TSE:ARX)

Receive News & Ratings for ARC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources and related companies with MarketBeat.com's FREE daily email newsletter.