ARC Resources Ltd (ARX) Price Target Cut to C$26.00
ARC Resources Ltd (TSE:ARX) had its price objective reduced by investment analysts at TD Securities from C$27.00 to C$26.00 in a note issued to investors on Monday. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. TD Securities’ price objective points to a potential upside of 10.78% from the stock’s previous close.
Several other research analysts have also issued reports on the stock. Scotiabank reiterated an “outperform” rating and issued a C$26.00 price target on shares of ARC Resources in a research note on Friday, November 11th. National Bank Financial restated a “sector perform” rating and set a C$27.00 price objective on shares of ARC Resources in a research note on Friday, November 11th. CSFB raised their price objective on shares of ARC Resources from C$26.00 to C$28.00 in a research note on Monday, October 24th. CIBC raised their price objective on shares of ARC Resources from C$24.50 to C$25.50 in a research note on Wednesday, October 19th. Finally, Royal Bank Of Canada raised their price objective on shares of 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 stock. ARC Resources presently has an average rating of “Buy” and a consensus price target of C$25.62.
Shares of ARC Resources (TSE:ARX) opened at 23.47 on Monday. The stock’s market capitalization is $8.24 billion. The company’s 50 day moving average is $23.44 and its 200-day moving average is $22.41. ARC Resources has a 52 week low of $14.43 and a 52 week high of $24.94.
The business also recently declared a oct 16 dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were paid a $0.05 dividend. The ex-dividend date of this dividend was 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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