Raymond James Reaffirms Strong-Buy Rating for ARC Resources (TSE:ARX)
ARC Resources (TSE:ARX)‘s stock had its “strong-buy” rating reissued by investment analysts at Raymond James in a report released on Friday, BayStreet.CA reports. They presently have a C$12.00 price objective on the oil and gas exploration company’s stock. Raymond James’ price target points to a potential upside of 73.66% from the company’s previous close.
A number of other research analysts also recently issued reports on ARX. Royal Bank of Canada reduced their price objective on shares of ARC Resources from C$12.00 to C$10.00 in a research report on Thursday, July 18th. CIBC dropped their target price on shares of ARC Resources from C$13.00 to C$11.00 in a report on Thursday, July 18th. National Bank Financial boosted their target price on shares of ARC Resources from C$10.00 to C$10.50 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Tudor Pickering & Holt restated a “hold” rating on shares of ARC Resources in a report on Friday, June 7th. Finally, TD Securities dropped their target price on shares of ARC Resources from C$13.50 to C$12.50 and set a “buy” rating on the stock in a report on Friday, June 21st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. ARC Resources currently has an average rating of “Buy” and an average target price of C$10.91.
Shares of ARC Resources stock opened at C$6.91 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.57 and a debt-to-equity ratio of 23.88. The company’s fifty day simple moving average is C$6.08 and its two-hundred day simple moving average is C$7.61. The company has a market cap of $2.44 billion and a P/E ratio of 10.16. ARC Resources has a 12-month low of C$5.37 and a 12-month high of C$14.84.
ARC Resources Company Profile
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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