ARC Resources (TSE:ARX) had its price objective trimmed by National Bank Financial from C$17.00 to C$14.00 in a research report released on Tuesday. The firm currently has a sector perform rating on the oil and gas exploration company’s stock.
Several other brokerages also recently weighed in on ARX. Raymond James Financial dropped their price objective on ARC Resources from C$25.00 to C$24.50 and set a strong-buy rating for the company in a research report on Tuesday, November 14th. CSFB dropped their target price on ARC Resources from C$23.00 to C$21.00 in a research report on Tuesday, November 14th. BMO Capital Markets dropped their target price on ARC Resources from C$20.00 to C$19.00 in a research report on Tuesday, October 10th. Barclays dropped their target price on ARC Resources from C$22.00 to C$19.00 in a research report on Tuesday, October 31st. Finally, Eight Capital increased their target price on ARC Resources from C$22.00 to C$22.50 in a research report on Monday, November 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of C$22.05.
Shares of ARC Resources (TSE:ARX) opened at C$14.16 on Tuesday. ARC Resources has a 1 year low of C$13.64 and a 1 year high of C$21.86. The firm has a market capitalization of $5,010.00, a price-to-earnings ratio of 10.41 and a beta of 0.63.
The company also recently announced a jan 18 dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be given a $0.05 dividend. The ex-dividend date is Thursday, December 28th. ARC Resources’s dividend payout ratio is presently 44.12%.
In related news, insider Bevin Mark Wirzba acquired 3,555 shares of the stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of C$14.10 per share, for a total transaction of C$50,125.50. Also, Director Myron Maurice Stadnyk acquired 5,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were bought at an average price of C$14.73 per share, with a total value of C$73,650.00. Insiders acquired 10,100 shares of company stock valued at $148,326 over the last quarter.
ARC Resources Company Profile
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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