Analysts Set ARC Resources Ltd (TSE:ARX) Price Target at C$9.61

ARC Resources Ltd (TSE:ARX) has been given an average recommendation of “Buy” by the ten brokerages that are presently covering the firm, reports. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$9.61.

ARX has been the subject of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a C$10.00 price objective on shares of ARC Resources in a research note on Wednesday, October 16th. Tudor Pickering & Holt reissued a “buy” rating on shares of ARC Resources in a research report on Friday, November 8th. Royal Bank of Canada decreased their target price on shares of ARC Resources from C$10.00 to C$9.00 in a research report on Friday, October 18th. CIBC decreased their target price on shares of ARC Resources from C$11.00 to C$9.50 in a research report on Tuesday, October 15th. Finally, TD Securities raised shares of ARC Resources from a “buy” rating to an “action list buy” rating and set a C$9.50 target price for the company in a research report on Monday, November 25th.

Shares of ARC Resources stock traded up C$0.25 on Thursday, hitting C$7.75. The stock had a trading volume of 3,055,818 shares, compared to its average volume of 2,220,635. The stock has a 50 day moving average of C$6.34 and a 200 day moving average of C$6.41. ARC Resources has a twelve month low of C$5.37 and a twelve month high of C$10.49. The company has a debt-to-equity ratio of 25.44, a quick ratio of 0.26 and a current ratio of 0.52. The firm has a market capitalization of $2.65 billion and a P/E ratio of 19.38.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, November 7th. The oil and gas exploration company reported C($0.05) earnings per share (EPS) for the quarter. The firm had revenue of C$276.80 million during the quarter, compared to the consensus estimate of C$286.40 million. Equities analysts expect that ARC Resources will post 0.23 earnings per share for the current year.

The company also recently announced a nov 19 dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, November 28th. ARC Resources’s dividend payout ratio is presently 150.00%.

About ARC Resources

ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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