ARC Resources Ltd (ARX) Receives C$25.45 Consensus Price Target from Analysts

Shares of ARC Resources Ltd (TSE:ARX) have received an average recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$25.45.

A number of brokerages have recently weighed in on ARX. Barclays PLC dropped their price objective on shares of ARC Resources from C$24.00 to C$22.00 in a research note on Monday, July 24th. Royal Bank Of Canada dropped their price objective on shares of ARC Resources from C$25.00 to C$22.00 in a research note on Thursday, July 20th. National Bank Financial dropped their price objective on shares of ARC Resources from C$22.00 to C$19.00 in a research note on Friday, June 23rd. Scotiabank reissued an “outperform” rating and set a C$29.00 price objective on shares of ARC Resources in a research note on Thursday, May 4th. Finally, TD Securities dropped 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.

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ARC Resources (ARX) traded down 1.40% during midday trading on Friday, hitting $16.95. The stock had a trading volume of 269,403 shares. The firm has a market cap of $5.99 billion and a P/E ratio of 21.43. The stock has a 50-day moving average price of $17.03 and a 200 day moving average price of $18.59. ARC Resources has a 12-month low of $16.23 and a 12-month high of $24.94.

The company also recently announced a aug 17 dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.05 dividend. The ex-dividend date is Thursday, July 27th. This represents a yield of 3.42%.

In other ARC Resources news, Director John Patrick Dielwart sold 10,000 shares of ARC Resources stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of C$16.77, for a total value of C$167,700.00.

ARC Resources Company Profile