ARC Resources (ARX) Stock Price Down 2.9% After Analyst Downgrade

ARC Resources Ltd (TSE:ARX) fell 2.9% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from C$19.00 to C$16.00. The stock traded as low as C$13.84 and last traded at C$13.88. 1,042,899 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 956,879 shares. The stock had previously closed at C$14.30.

Other equities research analysts also recently issued research reports about the company. CSFB cut their price objective on ARC Resources from C$23.00 to C$21.00 in a report on Tuesday, November 14th. Raymond James Financial cut their price target on ARC Resources from C$25.00 to C$24.50 and set a “strong-buy” rating on the stock in a report on Tuesday, November 14th. BMO Capital Markets cut their price target on ARC Resources from C$20.00 to C$19.00 in a report on Tuesday, October 10th. National Bank Financial cut their price target on ARC Resources from C$17.00 to C$14.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 9th. Finally, Eight Capital upped their price target on ARC Resources from C$22.00 to C$22.50 in a report on Monday, November 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. ARC Resources presently has an average rating of “Buy” and an average target price of C$21.75.

In other ARC Resources news, Director Myron Maurice Stadnyk acquired 5,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of C$14.73 per share, with a total value of C$73,650.00. Also, insider Bevin Mark Wirzba acquired 3,555 shares of the stock in a transaction dated Monday, December 18th. The shares were acquired at an average cost of C$14.10 per share, with a total value of C$50,125.50. In the last 90 days, insiders have acquired 10,100 shares of company stock worth $148,326.

The firm has a market cap of $4,780.00, a PE ratio of 10.21 and a beta of 0.63.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, November 9th. The oil and gas exploration company reported C$0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.08 by C$0.06. ARC Resources had a return on equity of 5.33% and a net margin of 18.86%.

The firm also recently disclosed a feb 18 dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a dividend yield of 0.0034965034965035%. ARC Resources’s dividend payout ratio is currently 44.12%.

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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.

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