ARC Resources (TSE:ARX) had its target price reduced by equities research analysts at National Bank Financial from C$16.50 to C$13.50 in a report released on Friday. The firm presently has a “sector perform” rating on the oil and gas exploration company’s stock. National Bank Financial’s price target suggests a potential upside of 32.48% from the company’s current price.
Several other research analysts also recently commented on ARX. TD Securities lifted their price target on ARC Resources from C$16.50 to C$17.50 in a research report on Thursday, August 2nd. Royal Bank of Canada lifted their price target on ARC Resources from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Raymond James raised ARC Resources from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from C$22.50 to C$23.00 in a research report on Thursday, August 2nd. Finally, BMO Capital Markets lifted their price target on ARC Resources from C$15.00 to C$17.00 in a research report on Thursday, August 2nd.
TSE ARX traded down C$1.73 during trading on Friday, hitting C$10.19. The company’s stock had a trading volume of 4,115,131 shares, compared to its average volume of 1,326,925. The company has a quick ratio of 0.63, a current ratio of 1.30 and a debt-to-equity ratio of 24.98. ARC Resources has a 52 week low of C$10.03 and a 52 week high of C$18.34.
In other news, Director John Patrick Dielwart acquired 6,300 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were bought at an average price of C$14.49 per share, with a total value of C$91,287.00. Also, Director David Ralph Collyer acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were purchased at an average cost of C$13.49 per share, for a total transaction of C$134,900.00.
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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