ARC Resources Ltd Stock Rating Reaffirmed by CIBC (ARX)
ARC Resources Ltd (TSE:ARX)‘s stock had its “sector perform” rating restated by equities researchers at CIBC in a research report issued on Thursday, Analyst RN reports.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of ARC Resources Ltd from C$31.00 to C$33.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of ARC Resources Ltd in a research note to investors on Wednesday, November 27th. Finally, analysts at CSFB raised their price target on shares of ARC Resources Ltd from C$30.00 to C$32.00 in a research note to investors on Wednesday, November 27th. They now have an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$31.06.
ARC Resources Ltd (TSE:ARX) traded down 1.49% during mid-day trading on Thursday, hitting $28.35. 656,955 shares of the company’s stock traded hands. ARC Resources Ltd has a 52-week low of $23.19 and a 52-week high of $29.95. The stock’s 50-day moving average is $28.99 and its 200-day moving average is $27.43. The company has a price-to-earnings ratio of 28.50.
The company also recently announced a dividend, which is scheduled for Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.0945 per share. The ex-dividend date is Friday, December 27th.
ARC Resources Ltd. (TSE:ARX), formerly ARC Energy Trust, along with its subsidiaries is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets.
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