ARC Resources Ltd (ARX) Rating Reiterated by Scotiabank
ARC Resources Ltd (TSE:ARX)‘s stock had its “outperform” rating restated by stock analysts at Scotiabank in a report released on Friday. They currently have a C$26.00 target price on the oil and gas exploration company’s stock. Scotiabank’s target price suggests a potential upside of 13.79% from the company’s current price.
Other equities analysts also recently issued research reports about the company. National Bank Financial restated a “sector perform” rating and issued a C$27.00 target price on shares of ARC Resources in a research note on Friday. CSFB boosted their target price on ARC Resources from C$26.00 to C$28.00 in a research note on Monday, October 24th. CIBC boosted their target price on ARC Resources from C$24.50 to C$25.50 in a research note on Wednesday, October 19th. Royal Bank Of Canada boosted their target price on ARC Resources from C$25.00 to C$26.00 in a research note on Thursday, October 13th. Finally, RBC Capital Markets boosted 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 given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of C$25.62.
Shares of ARC Resources (TSE:ARX) opened at 22.85 on Friday. ARC Resources has a one year low of $14.43 and a one year high of $24.94. The company’s market capitalization is $8.02 billion. The firm has a 50 day moving average price of $23.40 and a 200 day moving average price of $22.39.
The business also recently announced a oct 16 dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be given a dividend of $0.05 per share. The ex-dividend date 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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