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

ARC Resources Ltd. (TSE:ARX - Get Free Report) has been assigned an average rating of "Buy" from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$30.96.

Several brokerages have recently weighed in on ARX. Jefferies Financial Group reduced their price target on ARC Resources from C$30.00 to C$27.00 and set a "buy" rating for the company in a report on Monday, September 16th. Cormark upgraded ARC Resources to a "moderate buy" rating in a report on Monday, September 23rd. National Bankshares lifted their price objective on ARC Resources from C$31.00 to C$32.00 in a report on Thursday. Scotiabank lifted their price objective on ARC Resources from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, TD Securities lifted their price objective on ARC Resources from C$30.00 to C$31.00 and gave the stock a "buy" rating in a report on Thursday.

ARC Resources Price Performance

Shares of ARC Resources stock traded down C$0.43 on Friday, reaching C$24.63. The stock had a trading volume of 1,253,511 shares, compared to its average volume of 2,028,250. ARC Resources has a 1 year low of C$19.02 and a 1 year high of C$26.45. The company has a market cap of C$14.68 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The business's 50 day moving average is C$23.75 and its two-hundred day moving average is C$24.39.

ARC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, September 27th. ARC Resources's dividend payout ratio (DPR) is presently 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.