ARC Resources Ltd (ARX) Sets New 52-Week Low at $15.06

ARC Resources Ltd (TSE:ARX)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$15.06 and last traded at C$15.08, with a volume of 399,832 shares trading hands. The stock had previously closed at C$15.21.

A number of equities analysts have recently issued reports on ARX shares. National Bank Financial increased their price objective on shares of ARC Resources from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Barclays PLC dropped their price objective on shares of ARC Resources from C$24.00 to C$22.00 in a research note on Monday, July 24th. BMO Capital Markets dropped their price objective on shares of ARC Resources from C$20.00 to C$19.00 in a research note on Tuesday, October 10th. Finally, Royal Bank Of Canada dropped their price objective on shares of ARC Resources from C$25.00 to C$22.00 in a research note on Thursday, July 20th. Six investment analysts have rated the stock with a buy rating, ARC Resources presently has a consensus rating of “Buy” and a consensus target price of C$24.61.

The firm’s 50 day moving average is $16.78 and its 200 day moving average is $17.10. The stock has a market capitalization of $5.48 billion and a P/E ratio of 11.95.

The business also recently announced a nov 17 dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a $0.05 dividend. This represents a dividend yield of 3.82%. The ex-dividend date is Monday, October 30th.

In related news, Director Harold N. Kvisle bought 5,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of C$15.88 per share, for a total transaction of C$79,400.00. Also, Director Harold N. Kvisle bought 6,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of C$16.06 per share, with a total value of C$96,360.00. In the last 90 days, insiders bought 11,565 shares of company stock valued at $185,783.

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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.

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