Insider Buying: ARC Resources Ltd (ARX) Director Buys 5,000 Shares of Stock
ARC Resources Ltd (TSE:ARX) Director Harold N. Kvisle purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of C$15.88 per share, with a total value of C$79,400.00.
ARC Resources Ltd (TSE:ARX) remained flat at $16.09 during midday trading on Thursday. The company had a trading volume of 705,381 shares. ARC Resources Ltd has a 1-year low of $15.61 and a 1-year high of $24.94. The stock has a market capitalization of $5.69 billion and a P/E ratio of 12.40. The firm’s 50-day moving average price is $16.69 and its 200-day moving average price is $18.03.
The firm also recently announced a sep 17 dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 29th.
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Several equities research analysts recently commented on ARX shares. Royal Bank Of Canada lowered their price target on 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. 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 note on Thursday, May 4th. 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. National Bank Financial lowered their price target on ARC Resources from C$22.00 to C$19.00 in a research note on Friday, June 23rd. Finally, Barclays PLC lowered their price target on ARC Resources from C$24.00 to C$22.00 in a research note on Monday, July 24th. Seven equities research analysts have rated the stock with a buy rating, ARC Resources currently has a consensus rating of “Buy” and a consensus target price of C$25.55.
ARC Resources Company Profile
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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