ARC Resources Stock Rating Lowered by TD Securities (ARX)
ARC Resources (TSE:ARX) was downgraded by research analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Thursday, American Banking and Market News reports. They currently have a C$36.00 price target on the stock. TD Securities’ price target indicates a potential upside of 12.92% from the stock’s previous close.
Shares of ARC Resources (TSE:ARX) traded down 1.97% during mid-day trading on Thursday, hitting $31.88. 890,655 shares of the company’s stock traded hands. ARC Resources has a 52-week low of $24.71 and a 52-week high of $33.58. The stock’s 50-day moving average is $31.15 and its 200-day moving average is $29.45. The company has a P/E ratio of 42.23.
The company also recently announced a apr 14 dividend, which is scheduled for Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, April 28th.
Other equities research analysts have also recently issued reports about the stock. Analysts at NBF raised their price target on shares of ARC Resources from C$33.00 to C$35.00 in a research note on Thursday. Separately, analysts at BMO Capital Markets raised their price target on shares of ARC Resources from C$34.00 to C$36.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at CIBC cut their price target on shares of ARC Resources from C$36.00 to C$35.00 in a research note on Wednesday. They now have a “sector perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$34.70.
ARC Resources Ltd. (TSE:ARX) is a Canada-based conventional oil and gas company.
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