ARC Resources (TSE:ARX – Free Report) had its price target hoisted by Desjardins from C$29.00 to C$30.50 in a research report sent to investors on Monday, BayStreet.CA reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.
Several other equities research analysts have also recently commented on the stock. BMO Capital Markets raised their target price on shares of ARC Resources from C$24.00 to C$25.00 in a research report on Monday. Raymond James raised their target price on shares of ARC Resources from C$21.00 to C$26.00 and gave the stock an outperform rating in a research report on Friday, September 8th. TD Securities raised their target price on shares of ARC Resources from C$26.00 to C$27.00 and gave the stock a buy rating in a research report on Friday. CIBC raised their target price on shares of ARC Resources from C$26.00 to C$28.00 and gave the stock an outperform rating in a research report on Friday. Finally, ATB Capital boosted their target price on shares of ARC Resources from C$22.50 to C$26.00 in a report on Friday, October 20th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of C$26.90.
ARC Resources Stock Performance
ARC Resources Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.99%. ARC Resources’s payout ratio is presently 17.66%.
In other news, Senior Officer Sean Ross Allen Calder sold 19,172 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of C$21.39, for a total transaction of C$410,135.09. Corporate insiders own 0.23% of the company’s stock.
ARC Resources Company Profile
ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney properties located in northeast British Columbia and northern Alberta. ARC Resources Ltd. was founded in 1996 and is headquartered in Calgary, Canada.
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