ARC Resources (TSE:ARX – Get Free Report) was downgraded by Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report issued on Wednesday, BayStreet.CA reports. They currently have a C$27.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of C$25.00. Canaccord Genuity Group’s price objective would indicate a potential upside of 7.70% from the company’s previous close.
ARX has been the subject of a number of other research reports. National Bankshares cut their price target on shares of 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. TD Securities upped their price target on ARC Resources from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Raymond James dropped their target price on shares of ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Friday, January 19th. CIBC lowered their price objective on shares of ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Finally, Jefferies Financial Group lifted their target price 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. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$27.58.
Check Out Our Latest Report on ARC Resources
ARC Resources Price Performance
ARC Resources (TSE:ARX – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, beating analysts’ consensus estimates of C$0.50 by C$0.34. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. The company had revenue of C$1.00 million during the quarter. On average, research analysts expect that ARC Resources will post 2.0857143 EPS for the current year.
Insider Transactions at ARC Resources
In other ARC Resources news, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of ARC Resources stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total transaction of C$193,273.87. 0.07% of the stock is owned by insiders.
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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