ARC Resources (ARX) Price Target Lowered to C$13.50 at National Bank Financial
ARC Resources (TSE:ARX) had its target price trimmed by National Bank Financial from C$16.50 to C$13.50 in a research report sent to investors on Friday morning. The brokerage currently has a sector perform rating on the oil and gas exploration company’s stock.
A number of other research firms also recently weighed in on ARX. Royal Bank of Canada upped their target price on shares of 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 shares of ARC Resources from an outperform rating to a strong-buy rating and upped their target price for the stock from C$22.50 to C$23.00 in a research report on Thursday, August 2nd. BMO Capital Markets upped their price target on shares of ARC Resources from C$15.00 to C$17.00 in a research note on Thursday, August 2nd. Finally, TD Securities upped their price target on shares of ARC Resources from C$16.50 to C$17.50 in a research note on Thursday, August 2nd.
Shares of TSE:ARX traded down C$1.43 during midday trading on Friday, reaching C$10.49. The company’s stock had a trading volume of 5,512,200 shares, compared to its average volume of 1,333,285. 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 12-month low of C$10.03 and a 12-month high of C$18.34.
In other news, Director John Patrick Dielwart purchased 6,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were bought at an average price of C$14.49 per share, for a total transaction of C$91,287.00. Also, Director David Ralph Collyer purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was purchased at an average price 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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