Barclays PLC Raises ARC Resources Ltd (ARX) Price Target to C$28.00

ARC Resources Ltd (TSE:ARX) had its price objective raised by Barclays PLC from C$27.00 to C$28.00 in a research note issued to investors on Tuesday morning.

A number of other analysts have also issued reports on the company. Raymond James Financial Inc. raised their target price on ARC Resources from C$27.00 to C$27.50 in a report on Tuesday, July 5th. Scotiabank reaffirmed an outperform rating and issued a C$26.00 target price on shares of ARC Resources in a report on Friday, July 29th. BMO Capital Markets raised their target price on ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. Royal Bank Of Canada raised their target price on ARC Resources from C$24.00 to C$25.00 in a report on Thursday, July 14th. Finally, FirstEnergy Capital raised their target price on ARC Resources from C$22.00 to C$25.00 in a report on Monday, June 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of C$25.58.

Analyst Recommendations for ARC Resources (TSE:ARX)

Shares of ARC Resources (TSE:ARX) opened at 23.69 on Tuesday. ARC Resources has a one year low of $14.43 and a one year high of $24.46. The stock’s 50 day moving average price is $22.78 and its 200-day moving average price is $21.71. The stock’s market cap is $8.32 billion.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 annualized dividend 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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