ARC Resources Ltd (ARX) Price Target Raised to C$22.50 at Eight Capital
A number of other equities research analysts have also weighed in on ARX. Royal Bank Of Canada decreased their target price on ARC Resources from C$25.00 to C$22.00 in a research report on Thursday, July 20th. Barclays PLC reduced their price target on ARC Resources from C$24.00 to C$22.00 in a research report on Monday, July 24th. National Bank Financial boosted their price target on ARC Resources from C$19.00 to C$20.00 and gave the stock an outperform rating in a research report on Friday, August 4th. Finally, BMO Capital Markets reduced their price target on ARC Resources from C$20.00 to C$19.00 in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. ARC Resources presently has an average rating of Buy and a consensus price target of C$23.80.
Shares of ARC Resources (TSE ARX) traded down C$0.84 during midday trading on Monday, reaching C$16.87. The company’s stock had a trading volume of 1,513,876 shares, compared to its average volume of 1,124,070. ARC Resources has a 1-year low of C$15.01 and a 1-year high of C$24.74.
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The company also recently declared a nov 17 dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, October 30th. This represents a yield of 3.82%. ARC Resources’s payout ratio is presently 44.12%.
In other news, Director Harold N. Kvisle bought 6,000 shares of ARC Resources stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of C$16.06 per share, with a total value of C$96,360.00. Also, Director John Patrick Dielwart sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of C$17.86, for a total value of C$267,900.00. Insiders bought 11,565 shares of company stock worth $185,783 in the last 90 days.
About ARC Resources
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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