ARC Resources Ltd (TSE:ARX) had its target price raised by investment analysts at Royal Bank Of Canada from C$25.00 to C$26.00 in a research report issued to clients and investors on Thursday, StockTargetPrices.com reports. Royal Bank Of Canada’s target price suggests a potential upside of 8.79% from the company’s current price.
A number of other equities analysts also recently weighed in on the stock. Raymond James Financial Inc. boosted their target price on shares of ARC Resources from C$27.00 to C$27.50 in a report on Tuesday, July 5th. Scotiabank restated an “outperform” rating and set a C$26.00 target price on shares of ARC Resources in a report on Friday, July 29th. BMO Capital Markets boosted their target price on shares of ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. Barclays PLC boosted their target price on shares of ARC Resources from C$27.00 to C$28.00 in a report on Tuesday. Finally, TD Securities restated a “hold” rating and set a C$32.00 target price on shares of ARC Resources in a report on Friday, July 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$25.58.
ARC Resources (TSE:ARX) traded up 1.14% on Thursday, reaching $23.90. The company’s stock had a trading volume of 697,743 shares. ARC Resources has a 52 week low of $14.43 and a 52 week high of $24.46. The firm has a 50 day moving average price of $22.73 and a 200 day moving average price of $21.66. The stock’s market capitalization is $8.39 billion.
The firm also recently announced 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 is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%.
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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