Analysts Set ARC Resources Ltd. (TSE:ARX) Price Target at C$32.29

Shares of ARC Resources Ltd. (TSE:ARX) have earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$32.29.

A number of analysts have recently weighed in on ARX shares. CIBC upped their target price on shares of ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. Jefferies Financial Group upped their target price on shares of ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. National Bankshares upped their target price on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets upped their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Finally, UBS Group upped their target price on shares of ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th.

ARC Resources Stock Down 1.0 %

Shares of TSE ARX opened at C$27.23 on Friday. The firm has a fifty day simple moving average of C$26.08 and a two-hundred day simple moving average of C$24.88. The firm has a market capitalization of C$16.03 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. ARC Resources has a 12 month low of C$21.44 and a 12 month high of C$28.15.

ARC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.79%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio is 35.86%.

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.