ARC Resources Ltd (ARX) Given “Outperform” Rating at Scotiabank
Scotiabank reissued their outperform rating on shares of ARC Resources Ltd (TSE:ARX) in a research note released on Friday. Scotiabank currently has a C$29.00 price target on the oil and gas exploration company’s stock.
ARX has been the subject of a number of other research reports. Barclays PLC lifted their price objective on ARC Resources from C$27.00 to C$28.00 in a research report on Tuesday, October 11th. CSFB boosted their price target on ARC Resources from C$26.00 to C$28.00 in a research report on Monday, October 24th. Royal Bank Of Canada boosted their price target on ARC Resources from C$25.00 to C$26.00 in a research report on Thursday, October 13th. RBC Capital Markets boosted their price target on ARC Resources from C$25.00 to C$26.00 in a research report on Thursday, October 13th. Finally, TD Securities reissued a hold rating and set a C$26.00 price target (down previously from C$27.00) on shares of ARC Resources in a research report on Monday, November 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. ARC Resources currently has an average rating of Buy and a consensus price target of C$25.92.
Shares of ARC Resources (TSE:ARX) opened at 23.46 on Friday. ARC Resources has a 52-week low of $14.43 and a 52-week high of $24.94. The firm’s market cap is $8.26 billion. The firm has a 50-day moving average price of $23.48 and a 200-day moving average price of $22.44.
The firm also recently declared a dec 16 dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid 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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