ARC Resources Ltd (TSE:ARX) had its target price trimmed by Royal Bank Of Canada from C$28.00 to C$27.00 in a research note published on Thursday morning, StockTargetPrices.com reports. The firm currently has an outperform rating on the oil and gas exploration company’s stock.
ARX has been the subject of several other reports. Scotiabank restated an outperform rating and issued a C$26.00 target price on shares of ARC Resources in a research note on Friday, November 11th. Desjardins raised their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Wednesday, December 21st. CIBC raised their target price on ARC Resources from C$24.50 to C$25.50 in a research note on Wednesday, October 19th. Raymond James Financial, Inc. raised their target price on ARC Resources from C$27.50 to C$28.50 and gave the company an outperform rating in a research note on Wednesday, November 16th. Finally, RBC Capital Markets raised their target price on ARC Resources from C$27.00 to C$28.00 in a research note on Thursday, December 15th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of C$27.23.
Shares of ARC Resources (TSE:ARX) opened at 20.68 on Thursday. ARC Resources has a 1-year low of $17.12 and a 1-year high of $24.94. The firm has a 50-day moving average price of $21.33 and a 200 day moving average price of $22.73. The company has a market cap of $7.48 billion and a price-to-earnings ratio of 36.28.
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The company also recently announced a feb 17 dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, February 24th.
In other news, Director Herbert Pinder bought 74,000 shares of the company’s stock in a transaction on Friday, February 10th. The shares were purchased at an average price of C$21.13 per share, with a total value of C$1,563,620.00.
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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