A number of other analysts have also recently weighed in on ARX. Barclays PLC upgraded shares of ARC Resources from an equal weight rating to an overweight rating in a research note on Tuesday, April 18th. Royal Bank Of Canada reduced their price objective on shares of ARC Resources from C$27.00 to C$25.00 and set an outperform rating for the company in a research note on Thursday, May 4th. TD Securities reduced their price objective on shares of ARC Resources from C$23.00 to C$22.00 and set a buy rating for the company in a research note on Thursday, May 4th. Finally, Scotiabank restated an outperform rating and issued a C$29.00 price objective on shares of ARC Resources in a research note on Thursday, May 4th. Seven research analysts have rated the stock with a buy rating, ARC Resources presently has an average rating of Buy and an average target price of C$26.09.
ARC Resources (TSE ARX) traded down 0.47% during midday trading on Friday, reaching $16.92. 455,889 shares of the company were exchanged. ARC Resources has a one year low of $16.23 and a one year high of $24.94. The firm’s 50-day moving average is $17.54 and its 200-day moving average is $19.75. The firm has a market cap of $5.98 billion and a P/E ratio of 21.39.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, June 28th.
In related news, Director John Patrick Dielwart sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of C$16.77, for a total transaction of C$167,700.00.
ARC Resources Company Profile
ARC Resources Ltd is a crude oil and natural gas company. It is engaged in the exploration, development and production of crude oil and natural gas in Canada with an emphasis on the development of properties with hydrocarbons in place, commonly referred to as resource plays. Its properties, North Pembina Cardium Unit No.
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