ARC Resources (TSE:ARX – Get Free Report) had its price target boosted by analysts at Canaccord Genuity Group from C$24.00 to C$28.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 19.45% from the stock’s current price.
A number of other research firms have also recently weighed in on ARX. BMO Capital Markets upped their price target on ARC Resources from C$21.00 to C$24.00 in a report on Monday, October 16th. Desjardins boosted their price objective on shares of ARC Resources from C$25.00 to C$26.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Stifel Canada downgraded ARC Resources from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Stifel Nicolaus downgraded ARC Resources from a “buy” rating to a “hold” rating and set a C$23.00 price objective on the stock. in a report on Monday, October 16th. Finally, Raymond James raised their price objective on shares of ARC Resources from C$21.00 to C$26.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, ARC Resources currently has an average rating of “Moderate Buy” and an average target price of C$26.27.
ARC Resources Stock Up 2.0 %
ARC Resources (TSE:ARX – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas exploration company reported C$0.46 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.38 by C$0.08. The firm had revenue of C$1.21 billion during the quarter. ARC Resources had a return on equity of 37.72% and a net margin of 34.31%. Research analysts anticipate that ARC Resources will post 2.4656918 EPS for the current fiscal year.
In other news, Senior Officer Sean Ross Allen Calder sold 19,172 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$21.39, for a total transaction of C$410,135.09. Corporate insiders own 0.23% of the company’s stock.
ARC Resources Company Profile
ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney properties located in northeast British Columbia and northern Alberta. ARC Resources Ltd. was founded in 1996 and is headquartered in Calgary, Canada.
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