ARC Resources (TSE:ARX) Receives Strong-Buy Rating from Raymond James

ARC Resources (TSE:ARX)‘s stock had its “strong-buy” rating reaffirmed by Raymond James in a report released on Thursday, BayStreet.CA reports. They currently have a C$9.50 price target on the oil and gas exploration company’s stock. Raymond James’ price target suggests a potential upside of 23.22% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. CIBC decreased their price target on shares of ARC Resources from C$11.00 to C$9.50 in a research report on Tuesday, October 15th. Royal Bank of Canada decreased their price target on shares of ARC Resources from C$10.00 to C$9.00 in a research report on Friday, October 18th. Tudor Pickering & Holt lowered shares of ARC Resources from a “buy” rating to a “hold” rating and set a C$9.00 price target on the stock. in a research report on Tuesday, January 7th. National Bank Financial decreased their price target on shares of ARC Resources from C$10.50 to C$9.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Canaccord Genuity lifted their price target on shares of ARC Resources from C$10.00 to C$11.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of C$9.70.

ARC Resources stock traded up C$0.03 during mid-day trading on Thursday, hitting C$7.71. The company’s stock had a trading volume of 1,391,589 shares, compared to its average volume of 2,001,764. The company has a quick ratio of 0.26, a current ratio of 0.52 and a debt-to-equity ratio of 25.44. The stock has a market capitalization of $2.70 billion and a P/E ratio of 19.28. ARC Resources has a twelve month low of C$5.37 and a twelve month high of C$10.49. The stock’s fifty day moving average price is C$7.68 and its two-hundred day moving average price is C$6.55.

ARC Resources (TSE:ARX) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas exploration company reported C($0.05) earnings per share (EPS) for the quarter. The business had revenue of C$276.80 million for the quarter, compared to analysts’ expectations of C$286.40 million. Equities analysts expect that ARC Resources will post 0.2201332 earnings per share for the current year.

ARC Resources Company Profile

ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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