ARC Resources Ltd (ARX) PT Raised to C$25.00
ARC Resources Ltd (TSE:ARX) had its target price lifted by equities researchers at BMO Capital Markets from C$23.00 to C$25.00 in a research note issued to investors on Thursday. BMO Capital Markets’ price target suggests a potential upside of 4.08% from the stock’s previous close.
ARX has been the topic of a number of other reports. CIBC started coverage on shares of ARC Resources in a research note on Wednesday, June 15th. They issued an “outperform” rating and a C$24.50 price objective on the stock. Royal Bank Of Canada lifted their price objective on shares of ARC Resources from C$24.00 to C$25.00 in a research note on Thursday, July 14th. Scotiabank reissued an “outperform” rating and issued a C$26.00 price objective on shares of ARC Resources in a research note on Friday, July 29th. TD Securities reissued a “hold” rating and issued a C$32.00 price objective on shares of ARC Resources in a research note on Friday, July 29th. Finally, Barclays PLC lifted their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research note on Friday, July 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$25.36.
Shares of ARC Resources (TSE:ARX) opened at 24.02 on Thursday. ARC Resources has a 52-week low of $14.43 and a 52-week high of $24.46. The company has a 50 day moving average of $22.69 and a 200-day moving average of $21.56. The company’s market cap is $8.43 billion.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.83%.
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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