Q: What is the percentage production for Arx between gas and oil?Do you like this name currently?
5i Research Answer:
ARX is 63% gas and 37% crude oil and liquids. It looks good right now, is cheap, and it has a very solid balance sheet, with debt at barely six months' cash flow. Earnings/cash flow will be lower this year on pricing, but about 10% growth is expected in 2024. The dividend was raised in May and looks secure (payout ratio 15%) at current commodity price levels.