ARC Resources Ltd (ARX) Price Target Cut to C$27.00
ARC Resources Ltd (TSE:ARX) had its price objective lowered by Royal Bank Of Canada from C$28.00 to C$27.00 in a research report released on Thursday, StockTargetPrices.com reports. The brokerage currently has an outperform rating on the oil and gas exploration company’s stock.
A number of other research analysts have also recently issued reports on the company. Barclays PLC decreased their target price on ARC Resources from C$28.00 to C$26.00 in a research note on Monday, January 23rd. BMO Capital Markets decreased their target price on ARC Resources from C$26.00 to C$25.00 in a research note on Wednesday, December 21st. Desjardins boosted their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Wednesday, December 21st. RBC Capital Markets boosted their target price on ARC Resources from C$27.00 to C$28.00 in a research note on Thursday, December 15th. Finally, TD Securities reissued a hold rating and issued a C$26.00 target price on shares of ARC Resources in a research note on Tuesday, November 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of C$27.23.
ARC Resources (TSE:ARX) opened at 20.68 on Thursday. The firm has a market cap of $7.48 billion and a price-to-earnings ratio of 36.28. ARC Resources has a one year low of $17.12 and a one year high of $24.94. The stock’s 50 day moving average price is $21.33 and its 200-day moving average price is $22.73.
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The business also recently announced a feb 17 dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, February 24th.
In related news, Director Herbert Pinder bought 74,000 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were acquired at an average price of C$21.13 per share, for a total transaction of C$1,563,620.00.
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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