Arc Logistics Partners LP (ARCX) was Upgraded by Seaport Global Securities to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 15 from a previous price target of $14 . Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on May 6, 2016.
Many Wall Street Analysts have commented on Arc Logistics Partners LP. Company shares were Reiterated by Stifel on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 13 from a previous price target of $12 .Shares were Reiterated by Barclays on Mar 14, 2016 to “Equal Weight” and Lowered the Price Target to $ 12 from a previous price target of $15 .
Arc Logistics Partners LP closed down -0.08 points or -0.62% at $12.9 with 33,920 shares getting traded on Wednesday. Post opening the session at $13.1, the shares hit an intraday low of $12.49 and an intraday high of $13.28 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Arc Logistics Partners LP owns operates develops and acquires portfolio of complementary energy logistics assets. The Company is engaged in the terminalling storage throughput and transloading of crude oil and petroleum products. As of December 31 2014the Company’s energy logistics assets are located in the East Coast Gulf Coast West Coast and Midwest regions of the United States and supply a group of third-party customers including oil companies independent refiners crude oil and petroleum product marketers distributors and various industrial manufacturers. The Company’s assets consist of 15 terminals in ten states of the United States with approximately 6.4 million barrels of crude oil and petroleum product storage capacity; three rail transloading facilities with approximately 41000 barrels per day (bpd) of throughput capacity and the liquefied natural gas (LNG) Interest in connection with the LNG Facility which has 320000 cubic meter (M3) of storage.