ARC Resources (TSE:ARX) had its target price reduced by CIBC from C$11.00 to C$9.50 in a report issued on Tuesday morning, BayStreet.CA reports.
ARX has been the topic of several other research reports. Raymond James reissued a strong-buy rating and issued a C$12.00 price target on shares of ARC Resources in a research note on Friday, September 13th. GMP Securities dropped their price target on ARC Resources from C$14.25 to C$10.50 in a research note on Friday, June 28th. TD Securities dropped their price target on ARC Resources from C$13.50 to C$12.50 and set a buy rating on the stock in a research note on Friday, June 21st. National Bank Financial dropped their price target on ARC Resources from C$10.50 to C$9.00 and set an outperform rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their target price on ARC Resources from C$12.00 to C$10.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. ARC Resources has a consensus rating of Buy and an average target price of C$10.47.
ARX opened at C$5.62 on Tuesday. The business’s 50-day moving average price is C$6.13 and its two-hundred day moving average price is C$7.03. ARC Resources has a 1 year low of C$5.37 and a 1 year high of C$13.34. The company has a market capitalization of $2.01 billion and a price-to-earnings ratio of 8.26. The company has a debt-to-equity ratio of 23.88, a current ratio of 1.06 and a quick ratio of 0.57.
The business also recently announced a oct 19 dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.05 dividend. This represents a dividend yield of 10.73%. The ex-dividend date of this dividend is Wednesday, October 30th. ARC Resources’s dividend payout ratio is currently 88.24%.
ARC Resources Company Profile
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
Further Reading: Gross Domestic Product (GDP)
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