ARC Resources (ARX) Reaches New 12-Month Low at $14.79
ARC Resources Ltd (TSE:ARX) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as C$14.79 and last traded at C$15.50, with a volume of 956125 shares traded. The stock had previously closed at C$15.65.
ARX has been the subject of several research analyst reports. BMO Capital Markets lowered their price target on ARC Resources from C$20.00 to C$19.00 in a research report on Tuesday, October 10th. National Bank Financial lowered their price target on ARC Resources from C$17.50 to C$17.00 and set a “sector perform” rating for the company in a research report on Friday, November 10th. Barclays lowered their price target on ARC Resources from C$22.00 to C$19.00 in a research report on Tuesday, October 31st. CSFB reduced their price objective on ARC Resources from C$23.00 to C$21.00 in a research note on Tuesday, November 14th. Finally, Eight Capital increased their price objective on ARC Resources from C$22.00 to C$22.50 in a research note on Monday, November 13th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of C$23.18.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Wednesday, November 29th. ARC Resources’s payout ratio is currently 44.12%.
In other ARC Resources news, Director Myron Maurice Stadnyk purchased 5,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were bought at an average cost of C$14.73 per share, for a total transaction of C$73,650.00. Also, Director John Patrick Dielwart sold 15,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of C$17.86, for a total value of C$267,900.00. Over the last 90 days, insiders acquired 7,110 shares of company stock worth $108,223.
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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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