Royal Bank Of Canada Trims ARC Resources Ltd (ARX) Target Price to C$22.00
ARC Resources Ltd (TSE:ARX) had its price objective lowered by research analysts at Royal Bank Of Canada from C$25.00 to C$22.00 in a report released on Thursday. Royal Bank Of Canada’s target price would suggest a potential upside of 25.64% from the stock’s previous close.
A number of other research firms have also recently commented on ARX. Barclays PLC raised shares of ARC Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, April 18th. Scotiabank reissued an “outperform” rating and issued a C$29.00 price target on shares of ARC Resources in a research note on Thursday, May 4th. TD Securities cut their price target on shares of ARC Resources from C$23.00 to C$22.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Finally, National Bank Financial cut their price target on shares of ARC Resources from C$22.00 to C$19.00 in a research note on Friday, June 23rd. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of C$25.82.
ARC Resources (TSE:ARX) traded down 1.68% during mid-day trading on Thursday, hitting $17.51. 587,085 shares of the company traded hands. The firm has a 50 day moving average of $17.04 and a 200 day moving average of $18.87. ARC Resources has a one year low of $16.23 and a one year high of $24.94. The firm has a market capitalization of $6.19 billion and a P/E ratio of 22.14.
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In other news, Director John Patrick Dielwart sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of C$16.77, for a total value of C$167,700.00.
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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