Scotiabank Raises ARC Resources (TSE:ARX) Price Target to C$35.00

ARC Resources (TSE:ARX) had its price objective increased by Scotiabank from C$34.00 to C$35.00 in a research note released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Several other research firms have also commented on ARX. ATB Capital increased their price target on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. UBS Group lowered their target price on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. CIBC raised their price target on ARC Resources from C$31.00 to C$34.00 in a research report on Monday, July 15th. Desjardins upped their price objective on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, National Bankshares dropped their price objective on ARC Resources from C$32.00 to C$31.00 in a research report on Friday, September 27th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$30.46.

ARC Resources Stock Down 2.8 %

ARX opened at C$23.14 on Wednesday. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The company has a market cap of C$13.80 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a one year low of C$19.02 and a one year high of C$26.45. The business’s fifty day moving average is C$23.99 and its two-hundred day moving average is C$24.47.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. The business had revenue of C$1.15 billion during the quarter, compared to the consensus estimate of C$1.03 billion. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. Analysts anticipate that ARC Resources will post 2.7255139 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.94%. ARC Resources’s dividend payout ratio is presently 35.23%.

About ARC Resources

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.