ARC Resources (ARX) Price Target Lowered to C$13.50 at National Bank Financial

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ARC Resources (TSE:ARX) had its price target reduced by National Bank Financial from C$16.50 to C$13.50 in a research note issued to investors on Friday. They currently have a sector perform rating on the oil and gas exploration company’s stock.

Other research analysts also recently issued reports about the stock. Raymond James decreased their target price on shares of ARC Resources from C$23.00 to C$22.50 in a research note on Friday, October 5th. BMO Capital Markets lifted their target price on shares of ARC Resources from C$15.00 to C$17.00 in a research note on Thursday, August 2nd. TD Securities lifted their target price on shares of ARC Resources from C$16.50 to C$17.50 in a research note on Thursday, August 2nd. Finally, Royal Bank of Canada lifted their target price on shares of ARC Resources from C$19.00 to C$20.00 and gave the stock an outperform rating in a research note on Monday, July 30th.

Shares of TSE ARX traded down C$1.43 during mid-day trading on Friday, hitting C$10.49. The stock had a trading volume of 5,512,200 shares, compared to its average volume of 1,333,285. The company has a quick ratio of 0.63, a current ratio of 1.30 and a debt-to-equity ratio of 24.98. ARC Resources has a 1 year low of C$10.03 and a 1 year high of C$18.34.

The business also recently disclosed a nov 18 dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.05 per share. This represents a yield of 4.37%. The ex-dividend date is Tuesday, October 30th. ARC Resources’s payout ratio is currently 161.29%.

In related news, Director David Ralph Collyer acquired 10,000 shares of ARC Resources stock in a transaction on Thursday, September 20th. The shares were acquired at an average cost of C$13.49 per share, with a total value of C$134,900.00. Also, Director John Patrick Dielwart acquired 6,300 shares of ARC Resources stock in a transaction on Wednesday, August 22nd. The shares were bought at an average cost of C$14.49 per share, for a total transaction of C$91,287.00.

About ARC Resources

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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