Brokerages Set ARC Resources Ltd (ARX) Target Price at $25.69
Shares of ARC Resources Ltd (TSE:ARX) have received a consensus rating of “Buy” from the thirteen research firms that are currently covering the company. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$25.92.
A number of equities analysts recently weighed in on the stock. Barclays PLC upped their target price on shares of ARC Resources from C$27.00 to C$28.00 in a research note on Tuesday, October 11th. Scotiabank restated an “outperform” rating and set a C$29.00 price objective on shares of ARC Resources in a research note on Friday. CSFB increased their price objective on shares of ARC Resources from C$26.00 to C$28.00 in a research note on Monday, October 24th. Royal Bank Of Canada increased their price objective on shares of ARC Resources from C$25.00 to C$26.00 in a research note on Thursday, October 13th. Finally, RBC Capital Markets increased their price objective on shares of ARC Resources from C$25.00 to C$26.00 in a research note on Thursday, October 13th.
ARC Resources (TSE:ARX) opened at 23.46 on Wednesday. The company’s 50-day moving average price is $23.48 and its 200 day moving average price is $22.44. The company’s market capitalization is $8.24 billion. ARC Resources has a 52 week low of $14.43 and a 52 week high of $24.94.
The business also recently declared a dec 16 dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.05 dividend. The ex-dividend date is Monday, November 28th.
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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