Analysts have been quite happy with ARC Resources (TSX: ARX) stock lately, with another positive rating update this time from Raymond James. The company received a Buy today from analyst Jeremy Mccrea, with a C$22.50 price target.
According to TipRanks.com, Mccrea is ranked #1843 out of 4886 analysts.
Currently, the analyst consensus on ARC Resources is a Strong Buy with an average price target of C$18.70, which is a 32.3% upside from current levels. In a report issued on September 20, RBC Capital also reiterated a Buy rating on the stock with a C$18 price target.
The company has a one-year high of C$18.34 and a one-year low of C$11.88. Currently, ARC Resources has an average volume of 1.3M.
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 Friday at C$14.13.