ARC Resources Ltd (ARX) Given New C$27.00 Price Target at Royal Bank Of Canada
ARC Resources Ltd (TSE:ARX) had its target price raised by Royal Bank Of Canada from C$26.00 to C$27.00 in a research report released on Tuesday morning. They currently have an outperform rating on the oil and gas exploration company’s stock.
A number of other research firms have also recently weighed in on ARX. Scotiabank reaffirmed an outperform rating and set a C$26.00 price objective on shares of ARC Resources in a research report on Friday, November 11th. CIBC raised their price target on shares of ARC Resources from C$24.50 to C$25.50 in a research report on Wednesday, October 19th. Barclays PLC raised their price target on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, July 29th. Raymond James Financial Inc. raised their price target on shares of ARC Resources from C$27.50 to C$28.50 and gave the company an outperform rating in a research report on Wednesday, November 16th. Finally, TD Securities reissued a hold rating and issued a C$32.00 price target on shares of ARC Resources in a research report on Friday, July 29th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. ARC Resources has a consensus rating of Buy and an average price target of C$26.00.
Shares of ARC Resources (TSE:ARX) opened at 23.97 on Tuesday. The stock’s market capitalization is $8.44 billion. ARC Resources has a one year low of $14.43 and a one year high of $24.94. The stock’s 50 day moving average is $23.49 and its 200-day moving average is $22.51.
The business 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 dividend of $0.05 per share. 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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