Shares of ARC Resources (ARX) were revisited by a Wall Street analyst today. AltaCorp Captial’s analyst Patrick O’rourke reiterates their Buy rating on the shares, with a C$15 price target.
According to TipRanks.com, O’rourke ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.5% and a 31.7% success rate. O’rourke covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Paramount Resources Ltd, and Kelt Exploration Ltd.
Currently, the analyst consensus on ARC Resources is a Strong Buy with an average price target of C$15.75, representing a 77.6% upside. In a report released today, BMO Capital also reiterated a Buy rating on the stock with a C$11.50 price target.
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Based on ARC Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$45.1 million. In comparison, last year the company had a net profit of C$73.9 million.
ARC Resources Ltd. engages in the exploration, development, and production of crude oil and natural gas. Its projects include Montney operations in northeast British Columbia, and the Pembina Cardium in Alberta. The company was founded by John P. Dielwart and Mac H. van Wielingen in 1996 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$8.87.
