National Bank Financial Trims ARC Resources (ARX) Target Price to C$14.00
ARC Resources (TSE:ARX) had its target price trimmed by National Bank Financial from C$17.00 to C$14.00 in a research note released on Tuesday morning. The brokerage currently has a sector perform rating on the oil and gas exploration company’s stock.
Other research analysts also recently issued reports about the company. CSFB cut their price objective on ARC Resources from C$23.00 to C$21.00 in a research note on Tuesday, November 14th. Raymond James Financial cut 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 note on Tuesday, November 14th. BMO Capital Markets cut their price objective on ARC Resources from C$20.00 to C$19.00 in a research note on Tuesday, October 10th. Eight Capital boosted their price objective on ARC Resources from C$22.00 to C$22.50 in a research note on Monday, November 13th. Finally, Barclays cut their price objective on ARC Resources from C$22.00 to C$19.00 in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of C$22.05.
ARC Resources (TSE ARX) traded down C$0.34 during midday trading on Tuesday, hitting C$13.91. 1,205,052 shares of the stock traded hands, compared to its average volume of 1,058,781. ARC Resources has a 12-month low of C$13.64 and a 12-month high of C$21.86. The stock has a market cap of $4,920.00, a price-to-earnings ratio of 10.23 and a beta of 0.63.
In other ARC Resources news, Director Myron Maurice Stadnyk purchased 5,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was acquired at an average cost of C$14.73 per share, for a total transaction of C$73,650.00. Also, insider Bevin Mark Wirzba purchased 3,555 shares of the company’s stock in a transaction on Monday, December 18th. The stock was acquired at an average price of C$14.10 per share, with a total value of C$50,125.50. Over the last quarter, insiders have purchased 10,100 shares of company stock valued at $148,326.
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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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