ARC Resources (ARX) Rating Lowered to Outperform at Raymond James Financial
ARC Resources (TSE:ARX) was downgraded by stock analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research note issued on Thursday. They presently have a C$22.00 price objective on the oil and gas exploration company’s stock, down from their prior price objective of C$24.50. Raymond James Financial’s price objective suggests a potential upside of 50.07% from the company’s current price.
ARX has been the subject of a number of other research reports. National Bank Financial downgraded ARC Resources from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Thursday, October 12th. Barclays lowered their price target on ARC Resources from C$22.00 to C$19.00 in a research report on Tuesday, October 31st. Eight Capital boosted their price target on ARC Resources from C$22.00 to C$22.50 in a research report on Monday, November 13th. BMO Capital Markets lowered their price target on ARC Resources from C$20.00 to C$19.00 in a research report on Tuesday, October 10th. Finally, CSFB lowered their price target on ARC Resources from C$23.00 to C$21.00 in a research report on Tuesday, November 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. ARC Resources has an average rating of “Buy” and an average target price of C$22.95.
ARC Resources (TSE:ARX) remained flat at $C$14.66 during mid-day trading on Thursday. 1,219,858 shares of the stock were exchanged, compared to its average volume of 1,120,046. ARC Resources has a 12-month low of C$14.24 and a 12-month high of C$24.21.
COPYRIGHT VIOLATION WARNING: “ARC Resources (ARX) Rating Lowered to Outperform at Raymond James Financial” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/12/14/arc-resources-arx-rating-lowered-to-outperform-at-raymond-james-financial.html.
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.
Receive News & Ratings for ARC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources and related companies with MarketBeat.com's FREE daily email newsletter.