ARC Resources (TSE:ARX) had its price objective decreased by equities research analysts at Raymond James Financial from C$22.00 to C$21.00 in a research report issued to clients and investors on Monday. Raymond James Financial’s price target would indicate a potential upside of 59.09% from the stock’s previous close.
Several other research firms have also weighed in on ARX. Barclays reduced their price objective on shares of ARC Resources from C$22.00 to C$19.00 in a research note on Tuesday, October 31st. CSFB reduced their price objective on shares of ARC Resources from C$23.00 to C$21.00 in a research note on Tuesday, November 14th. Eight Capital lifted their price objective on shares of ARC Resources from C$22.00 to C$22.50 in a research note on Monday, November 13th. BMO Capital Markets reduced their price objective on shares of ARC Resources from C$20.00 to C$19.00 in a research note on Tuesday, October 10th. Finally, National Bank Financial reduced their price objective on shares of ARC Resources from C$17.00 to C$14.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 9th. 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 a consensus price target of C$21.65.
Shares of ARC Resources (TSE:ARX) traded up C$0.04 during trading hours on Monday, hitting C$13.20. 890,210 shares of the stock traded hands, compared to its average volume of 1,312,750. ARC Resources has a 12 month low of C$12.77 and a 12 month high of C$21.78. The firm has a market cap of $4,660.00, a PE ratio of 9.63 and a beta of 0.58.
ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, November 9th. The oil and gas exploration company reported C$0.14 EPS for the quarter, topping the consensus estimate of C$0.08 by C$0.06. ARC Resources had a net margin of 18.86% and a return on equity of 5.33%. The company had revenue of C$279.20 million during the quarter, compared to analysts’ expectations of C$333.90 million.
In related news, insider Bevin Mark Wirzba purchased 3,555 shares of the business’s stock in a transaction on Monday, December 18th. The shares were purchased at an average price of C$14.10 per share, with a total value of C$50,125.50. Also, Director Myron Maurice Stadnyk purchased 5,000 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was bought at an average cost of C$14.73 per share, for a total transaction of C$73,650.00. Insiders have purchased a total of 10,100 shares of company stock worth $148,326 in the last three months.
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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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