Barclays PLC Cuts ARC Resources Ltd (ARX) Price Target to C$22.00

ARC Resources Ltd (TSE:ARX) had its price target reduced by Barclays PLC from C$24.00 to C$22.00 in a research note released on Monday, July 24th.

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Other research analysts have also issued reports about the company. Royal Bank Of Canada cut their price objective on ARC Resources from C$25.00 to C$22.00 in a report on Thursday, July 20th. National Bank Financial dropped their target price on ARC Resources from C$22.00 to C$19.00 in a report on Friday, June 23rd. TD Securities dropped their target price on ARC Resources from C$23.00 to C$22.00 and set a buy rating on the stock in a report on Thursday, May 4th. Finally, Scotiabank reaffirmed an outperform rating and set a C$29.00 target price on shares of ARC Resources in a report on Thursday, May 4th. Seven equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of C$25.55.

Shares of ARC Resources (TSE:ARX) opened at 16.18 on Monday. The company’s 50-day moving average is $16.99 and its 200 day moving average is $18.37. The firm has a market capitalization of $5.72 billion and a P/E ratio of 12.47. ARC Resources has a 52-week low of $15.89 and a 52-week high of $24.94.

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

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

ARC Resources Company Profile