ARC Resources (ARX) Upgraded at National Bank Financial

ARC Resources (TSE:ARX) was upgraded by National Bank Financial from a “sector perform overweight” rating to an “outperform overweight” rating in a research report issued to clients and investors on Thursday.

ARX has been the subject of a number of other reports. CIBC decreased their price objective on shares of ARC Resources from C$20.00 to C$17.00 in a report on Tuesday, November 13th. Eight Capital upped their price objective on shares of ARC Resources from C$10.25 to C$10.75 in a report on Friday. Raymond James set a C$18.25 price objective on shares of ARC Resources and gave the stock a “strong-buy” rating in a report on Friday. Royal Bank of Canada decreased their price objective on shares of ARC Resources from C$18.00 to C$12.00 in a report on Tuesday, January 8th. Finally, GMP Securities decreased their price objective on shares of ARC Resources from C$16.75 to C$12.75 in a report on Thursday, December 13th.

Shares of TSE:ARX opened at C$9.55 on Thursday. The firm has a market capitalization of $3.37 billion and a P/E ratio of 26.53. ARC Resources has a 1 year low of C$7.38 and a 1 year high of C$15.90. The company has a debt-to-equity ratio of 24.20, a current ratio of 1.35 and a quick ratio of 1.17.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Thursday, November 8th. The oil and gas exploration company reported C($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.20 by C($0.33). The company had revenue of C$394.90 million for the quarter, compared to analysts’ expectations of C$409.50 million. As a group, equities analysts anticipate that ARC Resources will post 0.490000036029414 EPS for the current year.

In other news, Director Fred J. Dyment purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was bought at an average cost of C$8.42 per share, for a total transaction of C$126,300.00. Also, insider Terry Michael Anderson purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were purchased at an average price of C$10.40 per share, with a total value of C$52,000.00. Insiders have acquired 100,593 shares of company stock valued at $932,790 over the last 90 days.

ARC Resources Company Profile

ARC Resources Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and production of crude oil, natural gas, condensate, and natural gas liquids. The company primarily holds interests in the Montney resource play properties located in northeast British Columbia and northern Alberta; and other assets located in the Cardium formation in the Pembina area of Alberta.

Read More: How do taxes affect a CDs total return?

Receive News & Ratings for ARC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply