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 note issued on Wednesday, BayStreet.CA reports. They presently have a C$27.00 target price on the oil and gas exploration company’s stock, up from their prior target price of C$25.00. Canaccord Genuity Group’s price objective would indicate a potential upside of 8.13% from the company’s previous close.
Several other brokerages have also recently issued reports on ARX. Raymond James reduced their price objective on ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Stifel Nicolaus raised their price objective on ARC Resources from C$25.00 to C$29.00 in a research note on Friday, April 5th. CIBC reduced their price objective on ARC Resources from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Jefferies Financial Group raised their price objective on ARC Resources from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, TD Securities raised their price objective on ARC Resources from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$27.58.
View Our Latest Analysis on ARC Resources
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 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%. On average, analysts expect that ARC Resources will post 2.0857143 EPS for the current fiscal year.
Insider Activity
In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of ARC Resources stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. In other news, Senior Officer Kristen Jon Bibby sold 8,131 shares of ARC Resources stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. 0.07% of the stock is owned by corporate 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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