Trade Report: The ARC Resources Ltd (ARX) PT Raised to C$28.00

The ARC Resources Ltd (ARX) PT Raised to C$28.00

ARC Resources Ltd (TSE:ARX) had its price objective lifted by equities research analysts at Barclays PLC from C$27.00 to C$28.00 in a note issued to investors on Tuesday. Barclays PLC’s price objective points to a potential upside of 18.49% from the company’s current price.

Other research analysts have also issued reports about the stock. TD Securities reiterated a “hold” rating and set a C$32.00 price target on shares of ARC Resources in a research note on Friday, July 29th. BMO Capital Markets boosted their price target on shares of ARC Resources from C$23.00 to C$25.00 in a research note on Thursday, October 6th. CIBC initiated coverage on shares of ARC Resources in a research note on Wednesday, June 15th. They set an “outperform” rating and a C$24.50 price target on the stock. Royal Bank Of Canada boosted their price target on shares of ARC Resources from C$24.00 to C$25.00 in a research note on Thursday, July 14th. Finally, Raymond James Financial Inc. boosted their price target on shares of ARC Resources from C$27.00 to C$27.50 in a research note on Tuesday, July 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of C$25.45.

Shares of ARC Resources (TSE:ARX) opened at 23.63 on Tuesday. ARC Resources has a 52-week low of $14.43 and a 52-week high of $24.46. The stock’s 50 day moving average price is $22.73 and its 200-day moving average price is $21.66. The firm’s market capitalization is $8.30 billion.

The firm also recently declared 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 of this dividend is Wednesday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.85%.

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