ARC Resources Ltd (ARX) Upgraded at TD Securities

TD Securities upgraded shares of ARC Resources Ltd (TSE:ARX) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other research firms have also recently weighed in on ARX. CSFB raised their target price on shares of ARC Resources from C$26.00 to C$28.00 in a research note on Monday, October 24th. CIBC raised their target price on shares of ARC Resources from C$24.50 to C$25.50 in a research note on Wednesday, October 19th. Royal Bank Of Canada raised their target price on shares of ARC Resources from C$26.00 to C$27.00 and gave the company an outperform rating in a research note on Tuesday, November 22nd. RBC Capital Markets raised their target price on shares of ARC Resources from C$25.00 to C$26.00 in a research note on Thursday, October 13th. Finally, Raymond James Financial, Inc. raised their target price on shares of 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ARC Resources has an average rating of Buy and an average target price of C$27.23.

Analyst Recommendations for ARC Resources (TSE:ARX)

ARC Resources (TSE:ARX) opened at 20.68 on Thursday. ARC Resources has a 52 week low of $17.12 and a 52 week high of $24.94. The company has a market capitalization of $7.48 billion and a P/E ratio of 36.28. The stock’s 50 day moving average is $21.33 and its 200 day moving average is $22.73.

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The company also recently announced a feb 17 dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a $0.05 dividend. The ex-dividend date is Friday, February 24th.

In related news, Director Herbert Pinder acquired 74,000 shares of the firm’s stock in a transaction that occurred on Friday, February 10th. The stock was bought at an average price of C$21.13 per share, for a total transaction 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.

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/arc-resources-ltd-arx-upgraded-at-td-securities/1661449.html

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