ARC Resources (TSE:ARX) Price Target Increased to C$35.00 by Analysts at Scotiabank

ARC Resources (TSE:ARX) had its price target upped by Scotiabank from C$34.00 to C$35.00 in a research report report published on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Other equities research analysts also recently issued reports about the stock. Desjardins upped their price objective on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. ATB Capital upped their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a report on Friday, June 28th. CIBC upped their price target on ARC Resources from C$31.00 to C$34.00 in a research report on Monday, July 15th. National Bankshares decreased their price target on ARC Resources from C$32.00 to C$31.00 in a research report on Friday, September 27th. Finally, Jefferies Financial Group decreased their price target on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$30.46.

ARC Resources Price Performance

The stock has a market capitalization of C$13.64 billion, a P/E ratio of 12.05, a PEG ratio of 0.29 and a beta of 1.26. 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 debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The firm’s 50 day simple moving average is C$23.97 and its 200-day simple moving average is C$24.47.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The business had revenue of C$1.15 billion for the quarter, compared to the consensus estimate of C$1.03 billion. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. As a group, equities research analysts anticipate that ARC Resources will post 2.7255139 EPS for the current year.

ARC Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of ∞. The ex-dividend date was Friday, September 27th. ARC Resources’s dividend payout ratio (DPR) 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.