ARC Resources (ARX) PT Lowered to C$16.75

ARC Resources (TSE:ARX) had its target price lowered by equities research analysts at GMP Securities from C$17.50 to C$16.75 in a report released on Friday. GMP Securities’ target price points to a potential upside of 64.38% from the company’s current price.

Several other research analysts have also recently commented on the company. Raymond James reduced their price target on ARC Resources from C$23.00 to C$22.50 in a research report on Friday, October 5th. BMO Capital Markets increased 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 increased their price target on ARC Resources from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Monday, July 30th. TD Securities increased their price target on ARC Resources from C$16.50 to C$17.50 in a research report on Thursday, August 2nd. Finally, National Bank Financial reduced 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.

TSE ARX traded down C$1.73 during trading hours on Friday, hitting C$10.19. 4,115,131 shares of the company traded hands, compared to its average volume of 1,326,925. ARC Resources has a twelve month low of C$10.03 and a twelve month high of C$18.34. The company has a debt-to-equity ratio of 24.98, a current ratio of 1.30 and a quick ratio of 0.63.

In other ARC Resources news, Director David Ralph Collyer acquired 10,000 shares of the company’s stock in a transaction on Thursday, September 20th. The shares were purchased at an average price of C$13.49 per share, for a total transaction of C$134,900.00. Also, Director John Patrick Dielwart acquired 6,300 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was acquired at an average price of C$14.49 per share, for a total transaction of C$91,287.00.

ARC Resources Company Profile

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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