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 issued to investors on Tuesday, January 9th. The brokerage currently has a sector perform rating on the oil and gas exploration company’s stock.
A number of other equities research analysts have also recently issued reports on ARX. BMO Capital Markets decreased their target price on ARC Resources from C$20.00 to C$19.00 in a research report on Tuesday, October 10th. Barclays reduced their price objective on ARC Resources from C$22.00 to C$19.00 in a research report on Tuesday, October 31st. Eight Capital increased their price objective on ARC Resources from C$22.00 to C$22.50 in a research report on Monday, November 13th. Raymond James Financial reduced 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 report on Tuesday, November 14th. Finally, CSFB reduced their price objective on ARC Resources from C$23.00 to C$21.00 in a research report on Tuesday, November 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. ARC Resources presently has an average rating of Buy and a consensus price target of C$21.75.
Shares of ARC Resources (TSE:ARX) opened at C$13.52 on Tuesday. The stock has a market capitalization of $4,780.00, a P/E ratio of 9.94 and a beta of 0.63. ARC Resources has a 12-month low of C$13.20 and a 12-month high of C$21.83.
The company also recently announced a feb 18 dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a dividend yield of 0.0034965034965035%. ARC Resources’s payout ratio is 44.12%.
In other news, insider Bevin Mark Wirzba bought 3,555 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was acquired at an average cost of C$14.10 per share, for a total transaction of C$50,125.50. Also, Director Myron Maurice Stadnyk acquired 5,000 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were bought at an average price of C$14.73 per share, with a total value of C$73,650.00. Insiders purchased 10,100 shares of company stock valued at $148,326 over the last 90 days.
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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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