CIBC Raises ARC Resources (TSE:ARX) Price Target to C$18.00

ARC Resources (TSE:ARX) had its target price lifted by CIBC from C$16.00 to C$18.00 in a research note issued on Thursday, BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 32.26% from the stock’s current price.

ARX has been the subject of a number of other research reports. Scotiabank lifted their target price on ARC Resources from C$22.00 to C$23.00 in a report on Friday, November 5th. National Bankshares lifted their price objective on ARC Resources from C$18.50 to C$20.00 in a report on Thursday, January 6th. Raymond James set a C$17.50 price objective on ARC Resources and gave the stock an “outperform” rating in a report on Monday, November 8th. BMO Capital Markets boosted their price target on ARC Resources from C$16.00 to C$17.00 and gave the company a “na” rating in a report on Friday, November 5th. Finally, Royal Bank of Canada boosted their price target on ARC Resources from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Friday, November 5th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$17.52.

ARX opened at C$13.61 on Thursday. The stock has a market cap of C$9.59 billion and a PE ratio of 32.17. The company has a quick ratio of 0.34, a current ratio of 0.37 and a debt-to-equity ratio of 49.45. The business has a 50 day moving average of C$11.78 and a 200-day moving average of C$10.73. ARC Resources has a 52 week low of C$5.88 and a 52 week high of C$13.64.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Thursday, November 4th. The oil and gas exploration company reported C$0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.41 by C($0.34). The business had revenue of C$1.58 billion during the quarter. Equities analysts anticipate that ARC Resources will post 1.8600001 EPS for the current year.

ARC Resources Company Profile

ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.

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Analyst Recommendations for ARC Resources (TSE:ARX)

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