BMO Capital Thinks ARC Resources’ Stock is Going to Recover


In a latest note to investors, a research analyst has provided a rating update for the ARC Resources (ARX). BMO Capital’s analyst Randy Ollenberger reiterates their Buy rating on the shares, with a C$11.50 price target.

According to TipRanks.com, Ollenberger is a 1-star analyst with an average return of -2.7% and a 42.2% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Imperial Oil Limited, and Baytex Energy Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for ARC Resources with a C$16.47 average price target.

The company has a one-year high of C$15.90 and a one-year low of C$7.38. Currently, ARC Resources has an average volume of 2.11M.

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$8.77, close to its 52-week low of C$7.38.

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