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

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

Other analysts also recently issued research reports about the stock. ATB Capital raised their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, June 28th. Cormark raised shares of ARC Resources to a “moderate buy” rating in a research report on Monday, September 23rd. Canaccord Genuity Group raised their price objective on shares of ARC Resources from C$27.00 to C$29.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. National Bankshares reduced their price objective on shares of ARC Resources from C$32.00 to C$31.00 in a research report on Friday, September 27th. Finally, Desjardins lifted their price target on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$30.46.

ARC Resources Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. ARC Resources has a fifty-two week low of C$19.02 and a fifty-two week high of C$26.45. The stock’s 50-day moving average price is C$23.97 and its 200 day moving average price is C$24.47. The company has a market cap of C$13.64 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. The firm had revenue of C$1.15 billion during the quarter, compared to analyst estimates 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 predict that ARC Resources will post 2.7255139 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of ∞. The ex-dividend date was Friday, September 27th. ARC Resources’s dividend payout ratio (DPR) is presently 35.23%.

About ARC Resources

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.