ARC Resources Ltd (ARX) Given Consensus Recommendation of “Buy” by Analysts
ARC Resources Ltd (TSE:ARX) has received a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the firm. One research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$25.45.
ARX has been the subject of several research analyst reports. CIBC initiated coverage on shares of ARC Resources in a research report on Wednesday, June 15th. They issued an “outperform” rating and a C$24.50 target price for the company. Raymond James Financial Inc. raised their target price on shares of ARC Resources from C$27.00 to C$27.50 in a research report on Tuesday, July 5th. Royal Bank Of Canada raised their target price on shares of ARC Resources from C$24.00 to C$25.00 in a research report on Thursday, July 14th. Barclays PLC raised their target price on shares of ARC Resources from C$22.00 to C$26.00 in a research report on Friday, July 22nd. Finally, Scotiabank reaffirmed an “outperform” rating and issued a C$26.00 target price on shares of ARC Resources in a research report on Friday, July 29th.
ARC Resources (TSE:ARX) traded down 2.11% on Wednesday, reaching $23.65. 426,775 shares of the company traded hands. ARC Resources has a one year low of $14.43 and a one year high of $24.46. The stock’s 50 day moving average price is $22.71 and its 200 day moving average price is $21.64. The company’s market capitalization is $8.30 billion.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%.
ARC Resources Company Profile
ARC Resources Ltd. is a Canada-based oil and gas company. The Company’s business activities include the exploration, development and production of crude oil, natural gas and natural gas liquids in over five areas across western Canada. The Company is focused on the acquisition and development of resource-rich properties that provide an option for both near-term and long-term growth.
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