ARC Resources Ltd (ARX) Price Target Raised to C$25.00 at BMO Capital Markets
Several other equities research analysts also recently commented on ARX. CIBC initiated coverage on ARC Resources in a report on Wednesday, June 15th. They set an outperform rating and a C$24.50 price objective for the company. Royal Bank Of Canada boosted their price objective on ARC Resources from C$24.00 to C$25.00 in a report on Thursday, July 14th. Scotiabank restated an outperform rating and set a C$26.00 price objective on shares of ARC Resources in a report on Friday, July 29th. TD Securities restated a hold rating and set a C$32.00 price objective on shares of ARC Resources in a report on Friday, July 29th. Finally, Barclays PLC boosted their price objective on ARC Resources from C$26.00 to C$27.00 in a report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. ARC Resources presently has an average rating of Buy and an average price target of C$25.36.
Shares of ARC Resources (TSE:ARX) traded down 0.79% during midday trading on Thursday, reaching $23.92. The company’s stock had a trading volume of 206,516 shares. ARC Resources has a one year low of $14.43 and a one year high of $24.46. The firm has a 50-day moving average of $22.68 and a 200-day moving average of $21.52. The stock’s market cap is $8.40 billion.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors 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 dividend 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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