Shares of ARC Resources Ltd (TSE:ARX) have been assigned an average recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is C$25.55.

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of ARC Resources from C$25.00 to C$22.00 in a research note on Thursday, July 20th. National Bank Financial decreased their target price on shares of ARC Resources from C$22.00 to C$19.00 in a research note on Friday, June 23rd. Finally, Barclays PLC decreased their target price on shares of ARC Resources from C$24.00 to C$22.00 in a research note on Monday, July 24th.

Shares of ARC Resources (TSE ARX) traded down 2.06% during mid-day trading on Friday, hitting $17.60. 3,584,594 shares of the stock were exchanged. The stock’s 50-day moving average price is $16.44 and its 200-day moving average price is $17.60. The company has a market cap of $6.22 billion and a P/E ratio of 13.56. ARC Resources has a 52-week low of $15.61 and a 52-week high of $24.94.

The business also recently declared a oct 17 dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 28th.

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In related news, Director Harold N. Kvisle purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average price of C$16.06 per share, with a total value of C$96,360.00. Also, Director Harold N. Kvisle purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of C$15.88 per share, with a total value of C$79,400.00.

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.

Analyst Recommendations for ARC Resources (TSE:ARX)

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