Brokerages Set ARC Resources Ltd (ARX) Target Price at $27.50

ARC Resources Ltd (TSE:ARX) has received a consensus recommendation of “Buy” from the twelve analysts that are covering the firm. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$27.50.

Several analysts recently weighed in on the stock. Barclays PLC upgraded shares of ARC Resources from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. Royal Bank of Canada cut their price objective on shares of ARC Resources from C$28.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Thursday, February 9th. National Bank Financial upgraded shares of ARC Resources from a “sector perform” rating to an “outperform” rating and set a C$28.00 price objective on the stock in a research report on Thursday, February 9th. Scotiabank reiterated an “outperform” rating and issued a C$29.00 price objective on shares of ARC Resources in a research report on Thursday, February 9th. Finally, TD Securities upgraded shares of ARC Resources from a “hold” rating to a “buy” rating in a research report on Thursday, February 9th.

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In other ARC Resources news, Director Herbert Pinder acquired 74,000 shares of the stock in a transaction dated Friday, February 10th. The shares were bought at an average price of C$21.13 per share, with a total value of C$1,563,620.00. Also, insider Bevin Mark Wirzba acquired 3,130 shares of the stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average cost of C$19.02 per share, for a total transaction of C$59,532.60. Insiders have acquired a total of 95,630 shares of company stock worth $1,887,953 over the last 90 days.

Shares of ARC Resources (TSE:ARX) traded up 1.71% during midday trading on Tuesday, reaching $18.42. 781,170 shares of the company were exchanged. The stock’s 50-day moving average price is $18.97 and its 200-day moving average price is $21.59. The company has a market capitalization of $6.51 billion and a PE ratio of 32.32. ARC Resources has a 52-week low of $18.03 and a 52-week high of $24.94.

The business also recently declared a apr 17 dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, April 26th.

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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