ARC Resources Ltd to Issue Dec 16 Dividend of C$0.05 (ARX)
ARC Resources Ltd (TSE:ARX) declared a dec 16 dividend on Wednesday, November 16th. Stockholders of record on Wednesday, November 30th will be paid a dividend of 0.05 per share by the oil and gas exploration company on Thursday, December 15th. The ex-dividend date of this dividend is Monday, November 28th.
Shares of ARC Resources (TSE:ARX) traded down 1.49% on Wednesday, hitting $23.12. 638,957 shares of the stock traded hands. ARC Resources has a 52-week low of $14.43 and a 52-week high of $24.94. The stock’s market cap is $8.12 billion. The stock’s 50 day moving average price is $23.44 and its 200 day moving average price is $22.41.
A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a C$26.00 price objective on shares of ARC Resources in a report on Wednesday. Raymond James Financial Inc. raised their target price on shares of ARC Resources from C$27.50 to C$28.50 in a research report on Wednesday. RBC Capital Markets raised their target price on shares of ARC Resources from C$25.00 to C$26.00 in a research report on Wednesday. Barclays PLC raised their target price on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, July 29th. Finally, Scotiabank reissued an “outperform” rating and set a C$26.00 target price on shares of ARC Resources in a research report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. ARC Resources has a consensus rating of “Buy” and an average price target of C$25.69.
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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