Analysis: Arc Resources Ltd (TSE:ARX) Target Change Today
In a very recent research note revealed by National Bank Financial on Thursday morning, the firm, Arc Resources Ltd (TSE:ARX), had their Estimated Target Price lowered to $24.00. Analusts presently have a solid Outperform rating on the stock.
From a total of 17 analysts covering ARC Resources (TSE:ARX) stock, 18 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 90% of the ratings are positive. The highest target price is $37 while the lowest target price is $23. The mean of all analyst targets is $34.01 with a 34.78% above today’s ($18.4) stock price. ARC Resources was the topic of 7 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. National Bank Canada maintained shares on November 19 with “Outperform” rating.
Approximately 999,943 shares of stock traded hands. ARC Resources Ltd (TSE:ARX) has declined 26.61% since April 30, 2015 and is downtrending. It has underperformed by 26.32% the S&P500.
ARC Resources Ltd. is a Canada firm engaged in acquiring, developing and holding interests in petroleum and natural gas properties and assets. The company has a market cap of $6.35 billion. The Firm sells crude oil, natural gas, condensate and natural gas liquids (NGLs). It currently has negative earnings. The Company’s properties are located at Western Canadian Sedimentary Basin and within the Canadian provinces of British Columbia, Alberta, Saskatchewan or Manitoba.