ARC Resources’ (ARX) Outperform Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada restated their outperform rating on shares of ARC Resources Ltd (TSE:ARX) in a research note issued to investors on Wednesday. Royal Bank Of Canada currently has a C$26.00 price target on the oil and gas exploration company’s stock.
ARX has been the topic of a number of other reports. Barclays PLC lifted their price objective on ARC Resources from C$27.00 to C$28.00 in a research note on Tuesday, October 11th. RBC Capital Markets lifted their price objective on ARC Resources from C$25.00 to C$26.00 in a research note on Thursday, October 13th. CIBC lifted their price objective on ARC Resources from C$24.50 to C$25.50 in a research note on Wednesday, October 19th. CSFB lifted their price objective on ARC Resources from C$26.00 to C$28.00 in a research note on Monday, October 24th. Finally, Scotiabank reiterated an outperform rating and issued a C$26.00 price objective on shares of ARC Resources in a research note on Friday, November 11th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. ARC Resources has an average rating of Buy and a consensus price target of C$25.69.
ARC Resources (TSE:ARX) traded up 1.43% on Wednesday, reaching $23.40. The company’s stock had a trading volume of 164,628 shares. ARC Resources has a 52 week low of $14.43 and a 52 week high of $24.94. The stock’s 50 day moving average is $23.48 and its 200-day moving average is $22.41. The firm’s market capitalization is $8.22 billion.
The company also recently disclosed a dec 16 dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 28th.
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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