ARC Resources (ARX) seems to be keeping analysts happy lately, as another research firm gave the stock a Buy rating yesterday. TD Securities’ analyst Menno Hulshof reiterates their Buy rating on the shares, with a C$14 price target.
According to TipRanks.com, Hulshof has 0 stars on 0-5 star ranking scale with an average return of -15.7% and a 22.7% success rate. Hulshof covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Athabasca Oil Corporation, and Continental Resources.
ARC Resources has an analyst consensus of Strong Buy, with a price target consensus of C$15.42, implying a 73.8% upside from current levels. In a report released yesterday, 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.
