ARC Resources Ltd (ARX) Rating Reiterated by National Bank Financial
ARC Resources Ltd (TSE:ARX)‘s stock had its “sector perform” rating reaffirmed by equities researchers at National Bank Financial in a report issued on Friday. They presently have a C$27.00 price objective on the oil and gas exploration company’s stock. National Bank Financial’s target price would suggest a potential upside of 18.16% from the stock’s current price.
A number of other research analysts have also recently commented on ARX. CSFB increased their target price on ARC Resources from C$26.00 to C$28.00 in a research note on Monday, October 24th. Scotiabank reissued an “outperform” rating and issued a C$26.00 target price on shares of ARC Resources in a research note on Friday, July 29th. BMO Capital Markets increased their target price on ARC Resources from C$23.00 to C$25.00 in a research note on Thursday, October 6th. Barclays PLC increased their target price on ARC Resources from C$27.00 to C$28.00 in a research note on Tuesday, October 11th. Finally, Royal Bank Of Canada increased their target price on ARC Resources from C$25.00 to C$26.00 in a research note on Thursday, October 13th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. ARC Resources has a consensus rating of “Buy” and an average target price of C$25.62.
ARC Resources (TSE:ARX) opened at 22.85 on Friday. ARC Resources has a 52-week low of $14.43 and a 52-week high of $24.94. The stock has a 50 day moving average price of $23.40 and a 200 day moving average price of $22.39. The company’s market capitalization is $8.02 billion.
The company also recently announced a oct 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a dividend yield of 2.54%.
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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