ARC Resources (TSE:ARX – Free Report) had its price objective increased by TD Securities from C$24.00 to C$25.00 in a report published on Friday, BayStreet.CA reports. They currently have a buy rating on the oil and gas exploration company’s stock.
A number of other equities analysts have also commented on the company. Scotiabank boosted their price objective on ARC Resources from C$30.00 to C$32.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. BMO Capital Markets raised ARC Resources from a market perform rating to an outperform rating in a report on Friday. Canaccord Genuity Group boosted their price objective on ARC Resources from C$24.00 to C$28.00 and gave the stock a buy rating in a report on Friday, November 3rd. CIBC dropped their price objective on ARC Resources from C$28.00 to C$26.00 and set an outperform rating for the company in a report on Tuesday, January 16th. Finally, Stifel Nicolaus raised ARC Resources from a hold rating to a buy rating and boosted their price objective for the stock from C$24.25 to C$26.25 in a report on Monday, November 27th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$26.98.
ARC Resources Price Performance
ARC Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.68 dividend on an annualized basis and a yield of 3.10%. ARC Resources’s payout ratio is 23.21%.
ARC Resources Company Profile
ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney properties located in northeast British Columbia and northern Alberta. ARC Resources Ltd. was founded in 1996 and is headquartered in Calgary, Canada.
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