ARC Resources Ltd (TSE:ARX) had its target price lifted by research analysts at BMO Capital Markets from C$23.00 to C$25.00 in a note issued to investors on Thursday, StockTargetPrices.com reports. BMO Capital Markets’ price objective would indicate a potential upside of 3.61% from the stock’s previous close.
ARX has been the subject of several other research reports. CIBC initiated coverage on shares of ARC Resources in a research report on Wednesday, June 15th. They issued an “outperform” rating and a C$24.50 price target for the company. Royal Bank Of Canada upped their price target on shares of ARC Resources from C$24.00 to C$25.00 in a research report on Thursday, July 14th. Scotiabank reaffirmed an “outperform” rating and set a C$26.00 price objective on shares of ARC Resources in a research report on Friday, July 29th. TD Securities reaffirmed a “hold” rating and set a C$32.00 price objective on shares of ARC Resources in a research report on Friday, July 29th. Finally, Barclays PLC boosted their price objective on shares of ARC Resources from C$26.00 to C$27.00 in a research report on Friday, July 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$25.36.
ARC Resources (TSE:ARX) traded up 0.83% during midday trading on Thursday, reaching $24.33. 236,489 shares of the company were exchanged. The firm’s 50-day moving average is $22.65 and its 200-day moving average is $21.50. ARC Resources has a one year low of $14.43 and a one year high of $24.46. The firm’s market cap is $8.54 billion.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.83%. The ex-dividend date is Wednesday, September 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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