ARC Resources Ltd (ARX) Price Target Cut to C$19.00 by Analysts at National Bank Financial

ARC Resources Ltd (TSE:ARX) had its price objective decreased by National Bank Financial from C$22.00 to C$19.00 in a research note released on Friday morning.

A number of other analysts have also recently weighed in on ARX. Barclays PLC upgraded shares of ARC Resources from an equal weight rating to an overweight rating in a research note on Tuesday, April 18th. Royal Bank Of Canada reduced their price objective on shares of ARC Resources from C$27.00 to C$25.00 and set an outperform rating for the company in a research note on Thursday, May 4th. TD Securities reduced their price objective on shares of ARC Resources from C$23.00 to C$22.00 and set a buy rating for the company in a research note on Thursday, May 4th. Finally, Scotiabank restated an outperform rating and issued a C$29.00 price objective on shares of ARC Resources in a research note on Thursday, May 4th. Seven research analysts have rated the stock with a buy rating, ARC Resources presently has an average rating of Buy and an average target price of C$26.09.

ARC Resources (TSE ARX) traded down 0.47% during midday trading on Friday, reaching $16.92. 455,889 shares of the company were exchanged. ARC Resources has a one year low of $16.23 and a one year high of $24.94. The firm’s 50-day moving average is $17.54 and its 200-day moving average is $19.75. The firm has a market cap of $5.98 billion and a P/E ratio of 21.39.

ILLEGAL ACTIVITY NOTICE: “ARC Resources Ltd (ARX) Price Target Cut to C$19.00 by Analysts at National Bank Financial” was first published by sleekmoney and is owned by of sleekmoney. If you are reading this piece on another site, it was stolen and reposted in violation of international copyright legislation. The legal version of this piece can be viewed at https://sleekmoney.com/arc-resources-ltd-arx-price-target-cut-to-c19-00-by-analysts-at-national-bank-financial/1941311.html.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, June 28th.

In related news, Director John Patrick Dielwart sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of C$16.77, for a total transaction of C$167,700.00.

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.

Analyst Recommendations for ARC Resources (TSE:ARX)

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/arc-resources-ltd-arx-price-target-cut-to-c19-00-by-analysts-at-national-bank-financial/1941311.html

Receive News & Ratings for ARC Resources Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *