ARC Resources Ltd (TSE:ARX) reached a new 52-week low on Friday . The company traded as low as C$13.78 and last traded at C$14.07, with a volume of 1663090 shares changing hands. The stock had previously closed at C$14.66.
ARX has been the topic of a number of research analyst reports. Barclays dropped their price target on ARC Resources from C$22.00 to C$19.00 in a research note on Tuesday, October 31st. Eight Capital increased their price target on ARC Resources from C$22.00 to C$22.50 in a research note on Monday, November 13th. CSFB lowered their price objective on ARC Resources from C$23.00 to C$21.00 in a research report on Tuesday, November 14th. BMO Capital Markets lowered their price objective on ARC Resources from C$20.00 to C$19.00 in a research report on Tuesday, October 10th. Finally, Raymond James Financial cut ARC Resources from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from C$24.50 to C$22.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$22.95.
The company also recently disclosed a jan 18 dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, December 28th. ARC Resources’s payout ratio is 44.12%.
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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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