ARC Resources Ltd (ARX) Price Target Raised to C$26.00

ARC Resources Ltd (TSE:ARX) had its target price upped by RBC Capital Markets from C$25.00 to C$26.00 in a research note published on Wednesday.

A number of other equities research analysts have also issued reports on the stock. CSFB upped their price objective on shares of ARC Resources from C$26.00 to C$28.00 in a report on Monday, October 24th. Scotiabank reissued an outperform rating and issued a C$26.00 price objective on shares of ARC Resources in a report on Friday, July 29th. BMO Capital Markets upped their price objective on shares of ARC Resources from C$23.00 to C$25.00 in a report on Thursday, October 6th. Barclays PLC increased their target price on shares of ARC Resources from C$27.00 to C$28.00 in a research note on Tuesday, October 11th. Finally, TD Securities reaffirmed a hold rating and set a C$26.00 target price (down previously from C$27.00) on shares of ARC Resources in a research note on Monday, November 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of C$25.92.

ARC Resources (TSE:ARX) opened at 23.46 on Wednesday. The company’s market cap is $8.26 billion. ARC Resources has a 1-year low of $14.43 and a 1-year high of $24.94. The company’s 50 day moving average is $23.48 and its 200 day moving average is $22.44.

The firm also recently disclosed a dec 16 dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.05 dividend. The ex-dividend date is Monday, November 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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