ARC Resources’ (ARX) “Hold” Rating Reiterated at TD Securities
ARC Resources Ltd (TSE:ARX)‘s stock had its “hold” rating restated by equities research analysts at TD Securities in a research report issued on Tuesday. They currently have a C$26.00 price objective on the oil and gas exploration company’s stock. TD Securities’ price objective would suggest a potential upside of 8.60% from the stock’s current price.
ARX has been the topic of a number of other reports. CSFB lifted their target price on shares of ARC Resources from C$26.00 to C$28.00 in a report on Monday, October 24th. CIBC lifted their target price on shares of ARC Resources from C$24.50 to C$25.50 in a report on Wednesday, October 19th. BMO Capital Markets lifted their target price on shares of ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. Barclays PLC lifted their target price on shares of ARC Resources from C$27.00 to C$28.00 in a report on Tuesday, October 11th. Finally, Royal Bank Of Canada lifted their target price on shares of ARC Resources from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$26.00.
ARC Resources (TSE:ARX) traded down 0.29% during mid-day trading on Tuesday, hitting $23.87. 425,563 shares of the stock were exchanged. The firm’s market cap is $8.41 billion. The company has a 50 day moving average price of $23.49 and a 200 day moving average price of $22.49. ARC Resources has a 52-week low of $14.43 and a 52-week high of $24.94.
The business also recently announced a dec 16 dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given 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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