ARC Resources (TSE:ARX) Stock Rating Reaffirmed by Canaccord Genuity

ARC Resources (TSE:ARX)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. They currently have a C$10.00 price target on the oil and gas exploration company’s stock. Canaccord Genuity’s price target suggests a potential upside of 77.94% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of ARC Resources from C$12.00 to C$10.00 in a research report on Thursday, July 18th. TD Securities dropped their price target on shares of ARC Resources from C$13.50 to C$12.50 and set a “buy” rating on the stock in a research report on Friday, June 21st. Raymond James reaffirmed a “strong-buy” rating and issued a C$12.00 price target on shares of ARC Resources in a research report on Friday, September 13th. National Bank Financial dropped their price target on shares of ARC Resources from C$10.50 to C$9.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, CIBC dropped their price target on shares of ARC Resources from C$11.00 to C$9.50 in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. ARC Resources presently has an average rating of “Buy” and a consensus price target of C$10.47.

ARX stock opened at C$5.62 on Wednesday. The stock has a market capitalization of $2.01 billion and a PE ratio of 8.26. The company’s 50-day moving average is C$6.13 and its 200-day moving average is C$7.03. The company has a debt-to-equity ratio of 23.88, a current ratio of 1.06 and a quick ratio of 0.57. ARC Resources has a 1 year low of C$5.37 and a 1 year high of C$13.34.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas exploration company reported C$0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.06 by C$0.03. The company had revenue of C$282.90 million for the quarter, compared to the consensus estimate of C$309.10 million. On average, analysts anticipate that ARC Resources will post 0.2408466 earnings per share for the current fiscal year.

About ARC Resources

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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Analyst Recommendations for ARC Resources (TSE:ARX)

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