ARC Resources Ltd (ARX) PT Raised to C$28.50
ARC Resources Ltd (TSE:ARX) had its target price boosted by research analysts at Raymond James Financial Inc. from C$27.50 to C$28.50 in a research note issued on Wednesday. Raymond James Financial Inc.’s target price would indicate a potential upside of 22.21% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the company. CSFB increased their target price on ARC Resources from C$26.00 to C$28.00 in a report on Monday, October 24th. Scotiabank restated an “outperform” rating and set a C$26.00 price objective on shares of ARC Resources in a research note on Friday, July 29th. BMO Capital Markets raised their price objective on ARC Resources from C$23.00 to C$25.00 in a research note on Thursday, October 6th. Barclays PLC raised their price objective on ARC Resources from C$27.00 to C$28.00 in a research note on Tuesday, October 11th. Finally, CIBC raised their price objective on ARC Resources from C$24.50 to C$25.50 in a research note on Wednesday, October 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of C$25.69.
Shares of ARC Resources (TSE:ARX) opened at 23.32 on Wednesday. The company’s market cap is $8.19 billion. ARC Resources has a 12 month low of $14.43 and a 12 month high of $24.94. The stock has a 50 day moving average of $23.48 and a 200-day moving average of $22.42.
The company also recently disclosed a dec 16 dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.05 dividend. 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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