ARC Resources Ltd Price Target Increased to C$33.00 by Analysts at Credit Suisse (ARX)
Equities researchers at Credit Suisse boosted their price target on shares of ARC Resources Ltd (TSE:ARX) from C$32.00 to C$33.00 in a research report issued on Friday, AnalystRatingsNetwork reports. Credit Suisse’s price objective would suggest a potential upside of 8.55% from the stock’s previous close.
Shares of ARC Resources Ltd (TSE:ARX) traded down 1.22% during mid-day trading on Friday, hitting $30.03. The stock had a trading volume of 1,248,694 shares. ARC Resources Ltd has a 52-week low of $24.29 and a 52-week high of $30.62. The stock has a 50-day moving average of $28.82 and a 200-day moving average of $27.56. The company has a P/E ratio of 39.48.
The company also recently announced a dividend, which is scheduled for Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a dividend of 0.0915 per share. The ex-dividend date is Wednesday, January 29th.
A number of other analysts have also recently weighed in on ARX. Analysts at Scotiabank reiterated a “sector outperform” rating on shares of ARC Resources Ltd in a research note to investors on Thursday. Separately, analysts at RBC Capital raised their price target on shares of ARC Resources Ltd from C$33.00 to C$34.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at National Bank Financial raised their price target on shares of ARC Resources Ltd from C$32.00 to C$33.00 in a research note to investors on Thursday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. ARC Resources Ltd has a consensus rating of “Buy” and an average price target of C$31.83.
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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