Scotiabank Increases ARC Resources (TSE:ARX) Price Target to C$14.00


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ARC Resources (TSE:ARX) had its price objective upped by Scotiabank from C$11.00 to C$14.00 in a research report released on Thursday, BayStreet.CA reports.

ARX has been the subject of a number of other research reports. Canaccord Genuity upped their price objective on shares of ARC Resources from C$9.00 to C$9.50 in a research report on Wednesday, March 31st. CIBC increased their price objective on shares of ARC Resources from C$11.00 to C$12.00 and gave the stock an outperform rating in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of ARC Resources from C$10.00 to C$12.00 and gave the company an outperform rating in a research note on Wednesday, March 3rd. National Bank Financial raised their target price on shares of ARC Resources from C$9.00 to C$13.00 in a research note on Friday, February 19th. Finally, Tudor Pickering & Holt set a C$10.00 target price on shares of ARC Resources and gave the company a buy rating in a research note on Friday, February 12th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. ARC Resources has a consensus rating of Buy and an average price target of C$11.19.

Shares of ARC Resources stock opened at C$7.80 on Thursday. The firm has a fifty day moving average of C$7.80 and a two-hundred day moving average of C$6.85. The stock has a market capitalization of C$5.65 billion and a price-to-earnings ratio of -5.03. ARC Resources has a 52 week low of C$4.36 and a 52 week high of C$8.67. The company has a debt-to-equity ratio of 26.92, a quick ratio of 0.37 and a current ratio of 0.44.

The business also recently disclosed a mar 21 dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were issued a $0.06 dividend. The ex-dividend date was Tuesday, March 30th. ARC Resources’s dividend payout ratio (DPR) is currently -19.35%.

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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