ARC Resources Ltd (ARX) Given New C$26.00 Price Target at RBC Capital Markets
Other analysts also recently issued reports about the stock. Barclays PLC upped their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a report on Friday, July 29th. Royal Bank Of Canada upped their price objective on shares of ARC Resources from C$24.00 to C$25.00 in a report on Thursday, July 14th. Raymond James Financial Inc. upped their price objective on shares of ARC Resources from C$27.00 to C$27.50 in a report on Tuesday, July 5th. BMO Capital Markets upped their price objective on shares of ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. Finally, TD Securities reaffirmed a hold rating and set a C$32.00 price objective on shares of ARC Resources in a report on Friday, July 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. ARC Resources presently has a consensus rating of Buy and a consensus target price of C$25.58.
ARC Resources (TSE:ARX) traded up 0.50% during mid-day trading on Thursday, reaching $24.02. 39,974 shares of the company’s stock traded hands. The company’s market capitalization is $8.43 billion. ARC Resources has a 52-week low of $14.43 and a 52-week high of $24.46. The company has a 50-day moving average of $22.76 and a 200-day moving average of $21.67.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given 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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