ARC Resources (TSE:ARX) had its target price cut by Raymond James from C$22.50 to C$21.50 in a report issued on Friday. They currently have a strong-buy rating on the oil and gas exploration company’s stock.
ARX has been the subject of several other reports. BMO Capital Markets boosted their price target on ARC Resources from C$15.00 to C$17.00 in a research report on Thursday, August 2nd. Royal Bank of Canada boosted their price target on 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. GMP Securities dropped their price target on ARC Resources from C$17.50 to C$16.75 in a research report on Friday. National Bank Financial dropped their price target on ARC Resources from C$16.50 to C$13.50 and set a sector perform rating for the company in a research report on Friday. Finally, TD Securities boosted their price target on ARC Resources from C$16.50 to C$17.50 in a research report on Thursday, August 2nd.
Shares of ARX traded down C$1.43 during trading hours on Friday, hitting C$10.49. 5,512,200 shares of the stock were exchanged, compared to its average volume of 1,333,285. The company has a current ratio of 1.30, a quick ratio of 0.63 and a debt-to-equity ratio of 24.98. ARC Resources has a 12-month low of C$10.03 and a 12-month high of C$18.34.
In related news, Director John Patrick Dielwart bought 6,300 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was bought at an average cost of C$14.49 per share, for a total transaction of C$91,287.00. Also, Director David Ralph Collyer bought 10,000 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was bought at an average price of C$13.49 per share, with a total value of C$134,900.00.
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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