Shares of ARC Resources (ARX) were revisited by a Wall Street analyst today. The company received a Buy rating from Raymond James’ analyst Jeremy Mccrea, with a C$18.25 price target.
According to TipRanks.com, Mccrea has currently no stars on a ranking scale of 0-5 stars, with an average return of -18.8% and a 22.1% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
Currently, the analyst consensus on ARC Resources is a Strong Buy with an average price target of C$14.88, representing a 57.8% upside. In a report released today, GMP FirstEnergy also maintained a Buy rating on the stock with a C$14.25 price target.
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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 2.27M.
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$9.43.
