ARC Resources (TSE:ARX) PT Raised to C$16.75 at ATB Capital

ARC Resources (TSE:ARX) had its price objective lifted by ATB Capital from C$15.75 to C$16.75 in a report published on Tuesday, BayStreet.CA reports.

A number of other research analysts also recently commented on the company. Canaccord Genuity boosted their price target on ARC Resources from C$17.00 to C$18.00 and gave the company a na rating in a research note on Friday, November 5th. Raymond James set a C$17.50 target price on ARC Resources and gave the company an outperform rating in a report on Monday, November 8th. BMO Capital Markets upped their target price on ARC Resources from C$16.00 to C$17.00 and gave the company a na rating in a report on Friday, November 5th. Scotiabank boosted their price target on ARC Resources from C$22.00 to C$23.00 in a research note on Friday, November 5th. Finally, Tudor Pickering & Holt upped their target price on ARC Resources from C$13.00 to C$15.00 and gave the stock a buy rating in a research report on Thursday, October 7th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, ARC Resources presently has an average rating of Buy and an average target price of C$16.37.

Shares of ARX stock opened at C$11.96 on Tuesday. The company has a market capitalization of C$8.43 billion and a P/E ratio of 28.27. ARC Resources has a 52 week low of C$5.68 and a 52 week high of C$13.34. The company’s 50 day moving average price is C$11.79 and its two-hundred day moving average price is C$10.19. The company has a debt-to-equity ratio of 49.45, a quick ratio of 0.34 and a current ratio of 0.37.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, November 4th. The oil and gas exploration company reported C$0.07 earnings per share for the quarter, missing the consensus estimate of C$0.41 by C($0.34). The company had revenue of C$1.58 billion for the quarter. Analysts forecast that ARC Resources will post 1.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 17th. Investors of record on Friday, December 31st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.34%. This is a boost from ARC Resources’s previous quarterly dividend of $0.07. ARC Resources’s dividend payout ratio is 58.16%.

About ARC Resources

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 northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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