ARC Resources Ltd (ARX) Price Target Cut to C$19.00

ARC Resources Ltd (TSE:ARX) had its target price lowered by equities research analysts at BMO Capital Markets from C$20.00 to C$19.00 in a report issued on Tuesday. BMO Capital Markets’ price objective indicates a potential upside of 18.75% from the stock’s current price.

A number of other analysts have also commented on the company. National Bank Financial lifted their target price on ARC Resources from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Barclays PLC reduced their target price on ARC Resources from C$24.00 to C$22.00 in a report on Monday, July 24th. Finally, Royal Bank Of Canada reduced their target price on ARC Resources from C$25.00 to C$22.00 in a report on Thursday, July 20th. Seven investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of C$25.00.

ARC Resources (ARX) opened at 16.00 on Tuesday. The company has a market cap of $5.66 billion and a P/E ratio of 12.33. The firm has a 50-day moving average price of $16.95 and a 200-day moving average price of $17.35. ARC Resources has a 52 week low of $15.61 and a 52 week high of $24.94.

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In related news, Director John Patrick Dielwart sold 15,000 shares of ARC Resources stock in a transaction on Thursday, September 21st. The stock was sold at an average price of C$17.86, for a total transaction of C$267,900.00. Also, Director Harold N. Kvisle bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of C$15.88 per share, for a total transaction of C$79,400.00. Insiders have purchased 11,565 shares of company stock worth $185,783 over the last quarter.

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.

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