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

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$32.29.

Several brokerages have recently weighed in on ARX. CIBC increased their price objective on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. BMO Capital Markets increased their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Canaccord Genuity Group increased their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. TD Securities increased their price objective on shares of ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, UBS Group increased their price objective on shares of ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th.

ARC Resources Stock Performance

Shares of TSE ARX opened at C$27.23 on Friday. The firm’s 50-day moving average price is C$26.08 and its 200-day moving average price is C$24.88. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The company has a market cap of C$16.03 billion, a PE ratio of 14.36, a PEG ratio of 0.29 and a beta of 1.26. ARC Resources has a 52-week low of C$21.44 and a 52-week high of C$28.15.

ARC Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.19 per share. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 2.79%. ARC Resources’s dividend payout ratio (DPR) is presently 35.86%.

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.