Royal Bank Of Canada Raises ARC Resources Ltd (ARX) Price Target to C$26.00
ARC Resources Ltd (TSE:ARX) had its price target raised by analysts at Royal Bank Of Canada from C$25.00 to C$26.00 in a research note issued on Thursday. Royal Bank Of Canada’s price target would suggest a potential upside of 8.79% from the company’s current price.
Several other research firms also recently commented on ARX. Barclays PLC raised their price objective on ARC Resources from C$22.00 to C$26.00 in a report on Friday, July 22nd. 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. BMO Capital Markets lifted their price target on ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. CIBC initiated coverage on ARC Resources in a report on Wednesday, June 15th. They issued an “outperform” rating and a C$24.50 price target on the stock. Finally, Raymond James Financial Inc. lifted their price target on ARC Resources from C$27.00 to C$27.50 in a report on Tuesday, July 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. ARC Resources presently has a consensus rating of “Buy” and a consensus price target of C$25.58.
ARC Resources (TSE:ARX) traded up 1.14% during midday trading on Thursday, reaching $23.90. The company’s stock had a trading volume of 697,743 shares. The firm has a 50 day moving average price of $22.73 and a 200-day moving average price of $21.66. ARC Resources has a 12-month low of $14.43 and a 12-month high of $24.46. The company’s market cap is $8.39 billion.
The company also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.84%. 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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