ARC Resources (TSE:ARX) has been given a consensus rating of “Buy” by the ten analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$20.15.
A number of analysts recently commented on the stock. Raymond James Financial cut shares of ARC Resources from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from C$24.50 to C$22.00 in a research note on Thursday, December 14th. National Bank Financial lowered their target price on shares of ARC Resources from C$17.00 to C$14.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 9th. Barclays lowered their target price on shares of ARC Resources from C$19.00 to C$16.00 in a research note on Wednesday, January 17th. GMP Securities lowered their target price on shares of ARC Resources from C$20.50 to C$18.50 in a research note on Friday, February 9th. Finally, TD Securities lowered their target price on shares of ARC Resources from C$19.00 to C$18.50 in a research note on Friday, February 9th.
Shares of ARC Resources stock opened at C$14.18 on Thursday. ARC Resources has a 52-week low of C$11.88 and a 52-week high of C$19.09.
The business also recently announced a apr 18 dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a $0.05 dividend. This represents a yield of 4.72%. The ex-dividend date of this dividend is Wednesday, March 28th.
In other ARC Resources news, insider Lisa Ann Olsen acquired 2,300 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of C$12.86 per share, for a total transaction of C$29,578.00. Also, Director Harold N. Kvisle acquired 12,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of C$12.97 per share, with a total value of C$155,640.00. Insiders purchased a total of 20,300 shares of company stock valued at $260,278 over the last quarter.
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About ARC Resources
ARC Resources Ltd., together with its subsidiaries, acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids. It primarily has interest in four core areas located in Alberta and British Columbia, Canada. The company was founded in 1996 and is headquartered in Calgary, Canada.
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