ARC Resources (TSE:ARX – Free Report) had its price target raised by TD Securities from C$24.00 to C$25.00 in a research report report published on Friday, BayStreet.CA reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.
Several other brokerages have also recently weighed in on ARX. Stifel Canada upgraded ARC Resources from a hold rating to a buy rating in a report on Monday, November 27th. Scotiabank increased their price objective on ARC Resources from C$30.00 to C$32.00 and gave the stock an outperform rating in a report on Friday, November 3rd. Stifel Nicolaus upgraded ARC Resources from a hold rating to a buy rating and increased their price objective for the stock from C$24.25 to C$26.25 in a report on Monday, November 27th. ATB Capital dropped their price objective on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. Finally, CIBC dropped their price objective on ARC Resources from C$28.00 to C$26.00 and set an outperform rating for the company in a report on Tuesday, January 16th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of C$26.98.
ARC Resources Trading Up 2.8 %
ARC Resources Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, December 28th. ARC Resources’s dividend payout ratio is currently 23.21%.
About ARC Resources
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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