ARC Resources Ltd (TSE:ARX) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$20.15.
Several research firms recently commented on ARX. TD Securities dropped their price objective on ARC Resources from C$19.00 to C$18.50 in a research report on Friday, February 9th. CSFB dropped their price objective on ARC Resources from C$23.00 to C$21.00 in a research report on Tuesday, November 14th. Raymond James Financial dropped their price objective on ARC Resources from C$22.00 to C$21.00 in a research report on Monday, February 5th. GMP Securities dropped their price objective on ARC Resources from C$20.50 to C$18.50 in a research report on Friday, February 9th. Finally, National Bank Financial dropped their price objective on ARC Resources from C$17.50 to C$17.00 and set a “sector perform” rating on the stock in a research report on Friday, November 10th.
ARC Resources (TSE:ARX) traded down C$0.28 during midday trading on Wednesday, hitting C$12.39. The stock had a trading volume of 2,216,725 shares, compared to its average volume of 1,443,775. ARC Resources has a 52-week low of C$12.27 and a 52-week high of C$21.78. The stock has a market capitalization of $4,400.00, a PE ratio of 11.31 and a beta of 0.58.
In related news, insider Bevin Mark Wirzba acquired 3,555 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average price of C$14.10 per share, with a total value of C$50,125.50. Also, Director Myron Maurice Stadnyk bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were acquired at an average cost of C$14.73 per share, for a total transaction of C$73,650.00.
TRADEMARK VIOLATION WARNING: This article was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.americanbankingnews.com/2018/02/14/arc-resources-ltd-arx-receives-average-rating-of-buy-from-brokerages.html.
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.
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.