ARC Resources Ltd (ARX) Price Target Increased to C$20.00 by Analysts at National Bank Financial
ARC Resources Ltd (TSE:ARX) had its target price upped by research analysts at National Bank Financial from C$19.00 to C$20.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. National Bank Financial’s price objective would suggest a potential upside of 18.55% from the stock’s previous close. National Bank Financial also issued estimates for ARC Resources’ FY2017 earnings at $0.99 EPS and FY2018 earnings at $0.49 EPS.
Other equities research analysts have also issued reports about the company. Barclays PLC lowered their price target on ARC Resources from C$24.00 to C$22.00 in a research report on Monday, July 24th. Royal Bank Of Canada lowered their price target on ARC Resources from C$25.00 to C$22.00 in a research report on Thursday, July 20th. TD Securities lowered their price target on ARC Resources from C$23.00 to C$22.00 and set a “buy” rating for the company in a research report on Thursday, May 4th. Finally, Scotiabank reissued an “outperform” rating and issued a C$29.00 price target on shares of ARC Resources in a research report on Thursday, May 4th. Seven investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of C$25.55.
ARC Resources (TSE:ARX) traded up 4.98% during trading on Friday, hitting $16.87. 1,219,468 shares of the company traded hands. The firm has a market capitalization of $5.97 billion and a P/E ratio of 12.98. ARC Resources has a 12-month low of $16.20 and a 12-month high of $24.94. The stock has a 50-day moving average price of $17.02 and a 200-day moving average price of $18.55.
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In other ARC Resources news, Director John Patrick Dielwart sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of C$16.77, for a total value of C$167,700.00.
About ARC Resources
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