The shares of ARC Resources Ltd. (TSE:ARX – Get Rating) earned an average “Buy” recommendation from the thirteen brokerages that currently cover the stock, Marketbeat reports. Six investment analysts gave the stock a buy rating. The 12-month average price target among brokers who updated their coverage on the stock in the last year is C$20.73.
ARX has been the subject of a number of research analyst reports. BMO Capital Markets raised its price target on ARC Resources shares from C$20.00 to C$22.00 in a Friday, May 6 research report. Tudor Pickering & Holt raised their price target on ARC Resources from C$15.00 to C$18.00 and gave the company a “buy” rating in a Friday, February 11 report. Scotiabank raised its price target on ARC Resources from C$23.00 to C$26.00 in a Tuesday, March 8 research note. CIBC raised its target price on ARC Resources from C$20.00 to C$21.00 in a Thursday, April 14 research report. Finally, Stifel Nicolaus lowered his target price on ARC Resources from C$25.25 to C$24.75 in a Friday, May 6 research report.
ARX shares opened at C$17.91 on Monday. The company has a debt ratio of 43.20, a quick ratio of 0.38 and a current ratio of 0.41. ARC Resources has a fifty-two week low of C$7.51 and a fifty-two week high of C$19.60. The company has a 50-day moving average price of CA$17.11 and a 200-day moving average price of CA$14.49. The company has a market cap of C$12.20 billion and a price-earnings ratio of 23.66.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Thursday, June 30 will receive a dividend of $0.12. This represents an annualized dividend of $0.48 and a yield of 2.68%. This is a positive change from ARC Resources’ previous quarterly dividend of $0.10. ARC Resources’ dividend payout ratio is currently 43.06%.
About ARC resources (Get an assessment)
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 northeastern British Columbia and northern Alberta; and the Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proven and probable reserves of 929 million barrels of oil equivalent.
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