ARC Resources (TSE:ARX) had its target price reduced by analysts at GMP Securities from C$17.50 to C$16.75 in a note issued to investors on Friday, November 9th. GMP Securities’ price target points to a potential upside of 83.46% from the company’s previous close.
A number of other analysts have also commented on the stock. Raymond James cut their price objective on shares of ARC Resources from C$23.00 to C$22.50 in a research report on Friday, October 5th. BMO Capital Markets boosted their price objective on shares of ARC Resources from C$15.00 to C$17.00 in a research report on Thursday, August 2nd. Royal Bank of Canada upped their price target on shares of ARC Resources from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. National Bank Financial dropped their price target on shares of ARC Resources from C$16.50 to C$13.50 and set a “sector perform” rating on the stock in a research report on Friday, November 9th. Finally, TD Securities upped their price target on shares of ARC Resources from C$16.50 to C$17.50 in a research report on Thursday, August 2nd.
Shares of ARC Resources stock traded up C$0.03 on Friday, hitting C$9.13. The company had a trading volume of 2,121,295 shares, compared to its average volume of 1,411,274. ARC Resources has a twelve month low of C$8.95 and a twelve month high of C$16.33. The company has a current ratio of 1.35, a quick ratio of 1.17 and a debt-to-equity ratio of 24.20.
In other news, Director David Ralph Collyer acquired 10,000 shares of ARC Resources stock in a transaction on Thursday, September 20th. The shares were purchased at an average cost of C$13.49 per share, for a total transaction of C$134,900.00. Also, Director Fred J. Dyment acquired 25,000 shares of ARC Resources stock in a transaction on Tuesday, November 27th. The shares were purchased at an average price of C$9.54 per share, for a total transaction of C$238,500.00. Insiders purchased 62,533 shares of company stock worth $652,091 over the last 90 days.
ARC Resources Company Profile
ARC Resources Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and production of crude oil, natural gas, condensate, and natural gas liquids. The company primarily holds interests in the Montney resource play properties located in northeast British Columbia and northern Alberta; and other assets located in the Cardium formation in the Pembina area of Alberta.
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