CSFB Lowers ARC Resources Ltd (ARX) Price Target to C$21.00

ARC Resources Ltd (TSE:ARX) had its price target lowered by CSFB from C$23.00 to C$21.00 in a report issued on Tuesday. CSFB’s target price points to a potential upside of 24.48% from the company’s previous close.

ARX has been the subject of a number of other research reports. National Bank Financial cut ARC Resources from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Thursday, October 12th. Barclays PLC reduced their price target on ARC Resources from C$22.00 to C$19.00 in a research report on Tuesday, October 31st. Royal Bank Of Canada reduced their price target on ARC Resources from C$25.00 to C$22.00 in a research report on Thursday, July 20th. BMO Capital Markets reduced their price target on ARC Resources from C$20.00 to C$19.00 in a research report on Tuesday, October 10th. Finally, Raymond James Financial, Inc. dropped their price objective on ARC Resources from C$25.00 to C$24.50 and set a “strong-buy” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$23.18.

Shares of ARC Resources (TSE:ARX) traded down C$0.84 on Tuesday, reaching C$16.87. The company’s stock had a trading volume of 1,513,876 shares, compared to its average volume of 1,124,070. ARC Resources has a fifty-two week low of C$15.01 and a fifty-two week high of C$24.74.

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In other ARC Resources news, Director Harold N. Kvisle acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average price of C$15.88 per share, with a total value of C$79,400.00. Also, Director John Patrick Dielwart sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of C$17.86, for a total value of C$267,900.00. In the last ninety days, insiders bought 11,565 shares of company stock valued at $185,783.

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.

Analyst Recommendations for ARC Resources (TSE:ARX)

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