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BMO Capital Sticks to Its Buy Rating for ARC Resources (AETUF)

In a report released today, Randy Ollenberger from BMO Capital maintained a Buy rating on ARC Resources (AETUFResearch Report), with a price target of C$23.00. The company’s shares opened today at $14.85.

According to TipRanks, Ollenberger is a 5-star analyst with an average return of 13.2% and a 56.22% success rate. Ollenberger covers the Utilities sector, focusing on stocks such as Suncor Energy, Birchcliff Energy, and Canadian Natural.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for ARC Resources with a $18.59 average price target.

See the top stocks recommended by analysts >>

Based on ARC Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.71 billion and a net profit of $762.9 million. In comparison, last year the company earned a revenue of $1.33 billion and had a GAAP net loss of $123 million

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AETUF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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