ARC Resources Ltd (ARX) Price Target Cut to C$17.00 by Analysts at National Bank Financial

ARC Resources Ltd (TSE:ARX) had its price objective decreased by National Bank Financial from C$17.50 to C$17.00 in a research note published on Friday morning. National Bank Financial currently has a sector perform rating on the oil and gas exploration company’s stock.

Other equities analysts also recently issued reports about the company. Barclays PLC reduced their price target on ARC Resources from C$24.00 to C$22.00 in a report on Monday, July 24th. Royal Bank of Canada reduced their price target on ARC Resources from C$25.00 to C$22.00 in a report on Thursday, July 20th. Finally, BMO Capital Markets reduced their price objective on ARC Resources from C$20.00 to C$19.00 in a report on Tuesday, October 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of C$23.94.

Shares of ARC Resources (TSE:ARX) traded down C$0.06 during trading hours on Friday, hitting C$17.71. The stock had a trading volume of 1,800,785 shares, compared to its average volume of 1,122,274. ARC Resources has a 1 year low of C$15.01 and a 1 year high of C$24.74.

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The business also recently disclosed a nov 17 dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.05 per share. The ex-dividend date is Monday, October 30th. This represents a dividend yield of 3.82%. ARC Resources’s payout ratio is currently 45.80%.

In related news, Director John Patrick Dielwart sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of C$17.86, for a total value of C$267,900.00. Also, Director Harold N. Kvisle purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average cost of C$16.06 per share, for a total transaction of C$96,360.00. Over the last three months, insiders purchased 11,565 shares of company stock worth $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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