ARC Resources Ltd (TSE:ARX) had its price objective increased by 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 would suggest a potential upside of 9.75% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Barclays PLC lifted their target price on shares of ARC Resources from C$27.00 to C$28.00 in a research report on Tuesday, October 11th. RBC Capital Markets lifted their target price on shares of ARC Resources from C$25.00 to C$26.00 in a research report on Thursday. BMO Capital Markets lifted their target price on shares of ARC Resources from C$23.00 to C$25.00 in a research report on Thursday, October 6th. CIBC assumed coverage on shares of ARC Resources in a research report on Wednesday, June 15th. They set an “outperform” rating and a C$24.50 target price on the stock. Finally, Scotiabank reissued an “outperform” rating and set a C$26.00 target price on shares of ARC Resources in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$25.58.
Shares of ARC Resources (TSE:ARX) opened at 23.69 on Thursday. ARC Resources has a 52 week low of $14.43 and a 52 week high of $24.46. The company has a 50 day moving average price of $22.78 and a 200 day moving average price of $21.71. The company’s market capitalization is $8.32 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a 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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