ARC Resources Ltd (ARX) PT Raised to C$26.00 at RBC Capital Markets
ARC Resources Ltd (TSE:ARX) had its target price increased by research analysts at RBC Capital Markets from C$25.00 to C$26.00 in a report released on Wednesday. RBC Capital Markets’ target price would indicate a potential upside of 10.78% from the stock’s current price.
Several other research analysts also recently issued reports on the stock. CSFB upped their price target on shares of ARC Resources from C$26.00 to C$28.00 in a report on Monday, October 24th. Scotiabank restated an “outperform” rating and issued a C$26.00 price objective on shares of ARC Resources in a report on Friday, July 29th. BMO Capital Markets increased their price objective on ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. Barclays PLC increased their price objective on ARC Resources from C$27.00 to C$28.00 in a report on Tuesday, October 11th. Finally, Royal Bank Of Canada increased their price objective on ARC Resources from C$25.00 to C$26.00 in a report on Thursday, October 13th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$25.69.
ARC Resources (TSE:ARX) traded down 0.47% on Wednesday, reaching $23.36. The company’s stock had a trading volume of 546,400 shares. The company’s market cap is $8.20 billion. ARC Resources has a 12 month low of $14.43 and a 12 month high of $24.94. The stock’s 50 day moving average price is $23.44 and its 200 day moving average price is $22.41.
The business also recently disclosed a oct 16 dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, October 27th. This represents a dividend yield of 2.54%.
ARC Resources Company Profile
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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