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.

In other news, Director John Patrick Dielwart sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of C$17.86, for a total value of C$267,900.00. Also, Director Myron Maurice Stadnyk bought 5,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of C$14.73 per share, with a total value of C$73,650.00. Insiders bought 7,110 shares of company stock valued at $108,223 in the last ninety days.

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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.

Analyst Recommendations for ARC Resources (TSE:ARX)

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