ARC Resources (TSE:ARX – Get Free Report) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. They currently have a C$27.00 target price on the oil and gas exploration company’s stock, up from their previous target price of C$25.00. Canaccord Genuity Group’s target price would suggest a potential upside of 8.13% from the stock’s current price.
Several other equities analysts have also issued reports on ARX. Stifel Nicolaus upped their target price on ARC Resources from C$25.00 to C$29.00 in a report on Friday, April 5th. ATB Capital reduced their price objective on ARC Resources from C$27.00 to C$26.00 in a report on Tuesday, January 2nd. Jefferies Financial Group increased their price objective on ARC Resources from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Friday, April 12th. TD Securities increased their price objective on ARC Resources from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, National Bankshares reduced their price objective on ARC Resources from C$26.00 to C$25.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$27.58.
View Our Latest Stock Report on ARX
ARC Resources Stock Performance
ARC Resources (TSE:ARX – Get Free Report) last released its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.50 by C$0.34. The company had revenue of C$1.00 million during the quarter. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. As a group, sell-side analysts expect that ARC Resources will post 2.0857143 earnings per share for the current year.
Insiders Place Their Bets
In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total value of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. Company insiders own 0.07% of the company’s stock.
About ARC Resources
ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.
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