ARC Resources Ltd (ARX) Receives Average Recommendation of “Buy” from Analysts

ARC Resources Ltd (TSE:ARX) has earned a consensus rating of “Buy” from the eleven analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$25.00.

Several research analysts recently commented on ARX shares. National Bank Financial raised their price target on shares of ARC Resources from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Royal Bank Of Canada dropped their target price on shares of ARC Resources from C$25.00 to C$22.00 in a report on Thursday, July 20th. Barclays PLC dropped their target price on shares of ARC Resources from C$24.00 to C$22.00 in a report on Monday, July 24th. Finally, BMO Capital Markets dropped their target price on shares of ARC Resources from C$20.00 to C$19.00 in a report on Tuesday.

Shares of ARC Resources (TSE ARX) traded down 0.38% during trading on Thursday, reaching $15.94. 1,276,134 shares of the company were exchanged. The company has a market capitalization of $5.63 billion and a price-to-earnings ratio of 12.28. ARC Resources has a 1-year low of $15.61 and a 1-year high of $24.94. The stock’s 50 day moving average is $16.95 and its 200 day moving average is $17.35.

The firm also recently announced a oct 17 dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.05 per share. This represents a yield of 3.38%. The ex-dividend date is Thursday, September 28th.

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In other ARC Resources news, Director Harold N. Kvisle bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of C$15.88 per share, for a total transaction of C$79,400.00. Also, Director Harold N. Kvisle bought 6,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were acquired at an average price of C$16.06 per share, for a total transaction of C$96,360.00. Over the last quarter, insiders have acquired 11,565 shares of company stock worth $185,783.

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.

Analyst Recommendations for ARC Resources (TSE:ARX)

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