ARC Resources (TSE:ARX) had its target price trimmed by National Bank Financial from C$17.00 to C$14.00 in a research report released on Tuesday morning. The brokerage currently has a sector perform rating on the oil and gas exploration company’s stock.
ARX has been the topic of a number of other reports. Eight Capital upped their price objective on ARC Resources from C$22.00 to C$22.50 in a report on Monday, November 13th. Barclays decreased their price objective on ARC Resources from C$22.00 to C$19.00 in a report on Tuesday, October 31st. Raymond James Financial lowered ARC Resources from a strong-buy rating to an outperform rating and decreased their price objective for the company from C$24.50 to C$22.00 in a report on Thursday, December 14th. BMO Capital Markets decreased their price objective on ARC Resources from C$20.00 to C$19.00 in a report on Tuesday, October 10th. Finally, CSFB reduced their target price on ARC Resources from C$23.00 to C$21.00 in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of C$22.05.
ARC Resources (TSE:ARX) opened at C$14.16 on Tuesday. ARC Resources has a 1-year low of C$13.64 and a 1-year high of C$21.86. The company has a market capitalization of $5,010.00, a price-to-earnings ratio of 10.41 and a beta of 0.63.
The business also recently announced a jan 18 dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 28th. ARC Resources’s dividend payout ratio (DPR) is currently 44.12%.
In related news, insider Bevin Mark Wirzba bought 3,555 shares of ARC Resources stock in a transaction dated Monday, December 18th. The shares were bought at an average cost of C$14.10 per share, with a total value of C$50,125.50. Also, Director Myron Maurice Stadnyk bought 5,000 shares of ARC Resources stock in a transaction dated Thursday, December 7th. The shares were bought at an average cost of C$14.73 per share, for a total transaction of C$73,650.00. Over the last three months, insiders have bought 10,100 shares of company stock worth $148,326.
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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