ARC Resources Ltd (ARX) Receives Consensus Recommendation of “Buy” from Analysts
Shares of ARC Resources Ltd (TSE:ARX) have received a consensus rating of “Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$25.55.
A number of brokerages have recently issued reports on ARX. Royal Bank Of Canada dropped their price objective on shares of ARC Resources from C$27.00 to C$25.00 and set an “outperform” rating for the company in a research note on Thursday, May 4th. Barclays PLC dropped their price objective on shares of ARC Resources from C$24.00 to C$22.00 in a research note on Monday, July 24th. TD Securities dropped their price objective 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. Scotiabank restated an “outperform” rating and issued a C$29.00 price objective on shares of ARC Resources in a research note on Thursday, May 4th. Finally, National Bank Financial dropped their price objective on shares of ARC Resources from C$22.00 to C$19.00 in a research note on Friday, June 23rd.
In related news, Director John Patrick Dielwart sold 10,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of C$16.77, for a total transaction of C$167,700.00.
ARC Resources (TSE ARX) traded up 1.77% during trading on Wednesday, reaching $16.09. 757,423 shares of the company’s stock traded hands. The stock has a market capitalization of $5.69 billion and a P/E ratio of 12.40. ARC Resources has a 1-year low of $15.61 and a 1-year high of $24.94. The stock has a 50-day moving average price of $16.74 and a 200 day moving average price of $18.06.
The company also recently announced a sep 17 dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 29th.
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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