ARC Resources (TSE:ARX – Get Free Report) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. They currently have a C$27.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of C$25.00. Canaccord Genuity Group’s target price would indicate a potential upside of 7.70% from the stock’s previous close.
Several other analysts have also recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of ARC Resources from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Friday, April 12th. TD Securities lifted their price target on ARC Resources from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. ATB Capital lowered their price objective on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. Desjardins decreased their target price on ARC Resources from C$29.50 to C$29.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Raymond James lowered their price target on ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Friday, January 19th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$27.58.
Check Out Our Latest Stock Report on ARX
ARC Resources Trading Down 1.5 %
ARC Resources (TSE:ARX – Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.50 by C$0.34. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. The firm had revenue of C$1.00 million during the quarter. Equities research analysts expect that ARC Resources will post 2.0857143 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. In other ARC Resources news, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. Insiders own 0.07% of the company’s stock.
ARC Resources Company Profile
ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.
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