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

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus recommendation of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Ten 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 price target among brokers that have covered the stock in the last year is C$30.96.

A number of equities analysts have recently commented on the stock. Desjardins raised their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group cut their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. National Bankshares lifted their price target on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday. CIBC lifted their price target on shares of ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Finally, Cormark raised shares of ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd.

ARC Resources Stock Up 8.6 %

Shares of ARX opened at C$25.06 on Friday. The firm has a market cap of C$14.94 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company’s fifty day moving average is C$23.75 and its two-hundred day moving average is C$24.39. ARC Resources has a fifty-two week low of C$19.02 and a fifty-two week high of C$26.45. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49.

ARC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.71%. ARC Resources’s payout ratio is 35.23%.

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.