ARC Resources (TSE:ARX) had its price target decreased by research analysts at National Bank Financial from C$16.50 to C$13.50 in a research note issued to investors on Friday. The brokerage presently has a “sector perform” rating on the oil and gas exploration company’s stock. National Bank Financial’s target price points to a potential upside of 28.69% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Raymond James dropped their price objective on shares of ARC Resources from C$23.00 to C$22.50 in a report on Friday, October 5th. BMO Capital Markets increased their price objective on shares of ARC Resources from C$15.00 to C$17.00 in a report on Thursday, August 2nd. Royal Bank of Canada increased their price objective on shares of ARC Resources from C$19.00 to C$20.00 and gave the company an “outperform” rating in a report on Monday, July 30th. Finally, TD Securities increased their price objective on shares of ARC Resources from C$16.50 to C$17.50 in a report on Thursday, August 2nd.

ARX opened at C$10.49 on Friday. ARC Resources has a 52 week low of C$10.03 and a 52 week high of C$18.34. The company has a debt-to-equity ratio of 24.98, a quick ratio of 0.63 and a current ratio of 1.30.

In other ARC Resources news, Director David Ralph Collyer purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was purchased at an average price of C$13.49 per share, with a total value of C$134,900.00. Also, Director John Patrick Dielwart purchased 6,300 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was acquired at an average cost of C$14.49 per share, with a total value of C$91,287.00.

About ARC Resources

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.

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