Royal Bank Of Canada Raises ARC Resources Ltd (ARX) Price Target to C$26.00
ARC Resources Ltd (TSE:ARX) had its price objective upped by Royal Bank Of Canada from C$25.00 to C$26.00 in a report issued on Thursday, StockTargetPrices.com reports. Royal Bank Of Canada’s price objective points to a potential upside of 8.79% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. RBC Capital Markets increased their target price on shares of ARC Resources from C$25.00 to C$26.00 in a research report on Thursday. Barclays PLC raised their price target on shares of ARC Resources from C$27.00 to C$28.00 in a report on Tuesday. BMO Capital Markets raised their price target on shares of ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. TD Securities restated a “hold” rating and set a C$32.00 price target on shares of ARC Resources in a report on Friday, July 29th. Finally, Scotiabank restated an “outperform” rating and set a C$26.00 price target on shares of ARC Resources in a report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$25.58.
Shares of ARC Resources (TSE:ARX) traded up 1.14% during midday trading on Thursday, hitting $23.90. 697,743 shares of the stock were exchanged. ARC Resources has a 12-month low of $14.43 and a 12-month high of $24.46. The firm’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.
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The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.05 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 annualized dividend and a yield of 0.84%.
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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