ARC Resources Ltd (TSE:ARX) had its price target raised by RBC Capital Markets from C$25.00 to C$26.00 in a research report issued on Thursday. RBC Capital Markets’ price target would indicate a potential upside of 9.75% from the company’s current price.
Several other equities analysts also recently weighed in on ARX. CIBC started coverage on ARC Resources in a research report on Wednesday, June 15th. They issued an “outperform” rating and a C$24.50 target price for the company. Raymond James Financial Inc. lifted their target price on ARC Resources from C$27.00 to C$27.50 in a research report on Tuesday, July 5th. Royal Bank Of Canada lifted their target price on ARC Resources from C$24.00 to C$25.00 in a research report on Thursday, July 14th. Barclays PLC lifted their target price on ARC Resources from C$22.00 to C$26.00 in a research report on Friday, July 22nd. Finally, Scotiabank reaffirmed an “outperform” rating and issued 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 given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of C$25.58.
ARC Resources (TSE:ARX) opened at 23.69 on Thursday. The firm’s market cap is $8.32 billion. ARC Resources has a one year low of $14.43 and a one year high of $24.46. The company has a 50-day moving average of $22.78 and a 200 day moving average of $21.71.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, September 28th.