ARC Resources (TSE:ARX) Earns “Buy” Rating from Tudor Pickering & Holt

Tudor Pickering & Holt restated their buy rating on shares of ARC Resources (TSE:ARX) in a research note released on Friday, BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on the stock. National Bank Financial lowered their target price on shares of ARC Resources from C$10.50 to C$9.00 and set an outperform rating on the stock in a research note on Wednesday, October 2nd. CIBC lowered their target price on shares of ARC Resources from C$11.00 to C$9.50 in a research note on Tuesday, October 15th. Royal Bank of Canada lowered their target price on shares of ARC Resources from C$10.00 to C$9.00 in a research note on Friday, October 18th. Canaccord Genuity reaffirmed a buy rating and set a C$10.00 target price on shares of ARC Resources in a research note on Wednesday, October 16th. Finally, Raymond James reaffirmed a strong-buy rating and set a C$12.00 target price on shares of ARC Resources in a research note on Friday, September 13th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of C$9.94.

ARX traded down C$0.06 on Friday, hitting C$6.58. 2,037,594 shares of the company’s stock were exchanged, compared to its average volume of 2,169,333. ARC Resources has a fifty-two week low of C$5.37 and a fifty-two week high of C$10.99. The company has a current ratio of 1.06, a quick ratio of 0.57 and a debt-to-equity ratio of 23.88. The firm has a 50-day moving average price of C$5.93 and a 200-day moving average price of C$6.66. The stock has a market cap of $2.35 billion and a price-to-earnings ratio of 9.68.

The firm also recently announced a oct 19 dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a yield of 10.73%. ARC Resources’s dividend payout ratio (DPR) is presently 88.24%.

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.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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