ARC Resources Ltd (ARX) PT Raised to C$26.00
ARC Resources Ltd (TSE:ARX) had its price target raised by RBC Capital Markets from C$25.00 to C$26.00 in a research report issued to clients and investors on Thursday. RBC Capital Markets’ price target indicates a potential upside of 10.03% from the stock’s previous close.
ARX has been the subject of several other research reports. Barclays PLC boosted their target price on shares of ARC Resources from C$27.00 to C$28.00 in a research report on Tuesday. BMO Capital Markets boosted their target price on shares of ARC Resources from C$23.00 to C$25.00 in a research report on Thursday, October 6th. TD Securities reissued a “hold” rating and issued a C$32.00 target price on shares of ARC Resources in a research report on Friday, July 29th. Scotiabank reaffirmed an “outperform” rating and set a C$26.00 price objective on shares of ARC Resources in a research report on Friday, July 29th. Finally, Royal Bank Of Canada boosted their price objective on shares of ARC Resources from C$24.00 to C$25.00 in a research report on Thursday, July 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of C$25.50.
Shares of ARC Resources (TSE:ARX) traded up 1.10% during trading on Thursday, hitting $23.89. The stock had a trading volume of 390,309 shares. The stock’s market cap is $8.39 billion. The stock’s 50-day moving average is $22.73 and its 200-day moving average is $21.66. ARC Resources has a 12-month low of $14.43 and a 12-month high of $24.46.
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The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Wednesday, September 28th.
About ARC Resources
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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