ARC Resources (ARX) Reaches New 1-Year Low on Analyst Downgrade

ARC Resources Ltd (TSE:ARX) shares reached a new 52-week low on Tuesday after Raymond James Financial lowered their price target on the stock from C$22.00 to C$21.00. The stock traded as low as C$12.61 and last traded at C$12.84, with a volume of 1149603 shares traded. The stock had previously closed at C$13.01.

Several other research analysts have also recently weighed in on the stock. Barclays decreased their price target on shares of ARC Resources from C$19.00 to C$16.00 in a report on Wednesday, January 17th. National Bank Financial decreased their price target on shares of ARC Resources from C$17.00 to C$14.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 9th. CSFB reduced their target price on ARC Resources from C$23.00 to C$21.00 in a research note on Tuesday, November 14th. Eight Capital increased their target price on ARC Resources from C$22.00 to C$22.50 in a research note on Monday, November 13th. Finally, BMO Capital Markets reduced their target price on ARC Resources from C$20.00 to C$19.00 in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of C$21.65.

In other news, Director Myron Maurice Stadnyk bought 5,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of C$14.73 per share, for a total transaction of C$73,650.00. Also, insider Bevin Mark Wirzba bought 3,555 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average price of C$14.10 per share, with a total value of C$50,125.50. Over the last 90 days, insiders have acquired 10,100 shares of company stock valued at $148,326.

The company has a market capitalization of $4,580.00, a price-to-earnings ratio of 9.52 and a beta of 0.58.

ARC Resources (TSE:ARX) last posted its earnings results on Thursday, November 9th. The oil and gas exploration company reported C$0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.08 by C$0.06. The company had revenue of C$279.20 million during the quarter, compared to analyst estimates of C$333.90 million. ARC Resources had a net margin of 18.86% and a return on equity of 5.33%.

The company also recently announced a feb 18 dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, January 30th. This represents a dividend yield of 0.0034965034965035%. ARC Resources’s dividend payout ratio is currently 44.12%.

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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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