ARC Resources (TSE:ARX) Lowered to “Hold” Rating by UBS Group

UBS Group downgraded shares of ARC Resources (TSE:ARX) from a strong-buy rating to a hold rating in a research report released on Friday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. CIBC lowered their price target on ARC Resources from C$34.00 to C$31.50 in a research report on Wednesday, October 15th. Capital One Financial upgraded ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. Jefferies Financial Group decreased their price objective on ARC Resources from C$30.00 to C$28.00 in a report on Monday, November 10th. National Bankshares cut their target price on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Finally, Raymond James Financial reduced their price target on shares of ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$32.41.

ARC Resources Trading Down 1.2%

Shares of ARC Resources stock opened at C$25.91 on Friday. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. ARC Resources has a 1 year low of C$22.63 and a 1 year high of C$31.56. The firm has a market cap of C$14.92 billion, a PE ratio of 11.03, a PEG ratio of 0.29 and a beta of -0.05. The company has a 50 day simple moving average of C$25.48 and a two-hundred day simple moving average of C$26.73.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 EPS for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. The firm had revenue of C$1.38 billion for the quarter. Analysts expect that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.9%. ARC Resources’s payout ratio is 32.34%.

About ARC Resources

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.