ARC Resources Ltd (ARX) Given New C$26.00 Price Target at Royal Bank Of Canada
ARC Resources Ltd (TSE:ARX) had its target price increased by Royal Bank Of Canada from C$25.00 to C$26.00 in a research note released on Thursday, StockTargetPrices.com reports.
Several other equities research analysts have also commented on the company. RBC Capital Markets boosted their price objective on ARC Resources from C$25.00 to C$26.00 in a research note on Thursday. Barclays PLC boosted their price objective on ARC Resources from C$27.00 to C$28.00 in a research note on Tuesday. BMO Capital Markets boosted their price objective on ARC Resources from C$23.00 to C$25.00 in a research note on Thursday, October 6th. TD Securities reiterated a hold rating and set a C$32.00 price objective on shares of ARC Resources in a research note on Friday, July 29th. Finally, Scotiabank reiterated an outperform rating and set a C$26.00 price objective on shares of ARC Resources in a research note on Friday, July 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of C$25.58.
Shares of ARC Resources (TSE:ARX) traded up 0.50% during midday trading on Thursday, hitting $24.02. The company had a trading volume of 39,974 shares. The company’s market capitalization is $8.43 billion. The company has a 50-day moving average of $22.76 and a 200-day moving average of $21.67. ARC Resources has a 12 month low of $14.43 and a 12 month high of $24.46.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%.
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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