In a report released today, Jeremy Mccrea from Raymond James maintained a Buy rating on ARC Resources (AETUF – Research Report), with a price target of C$17.50. The company’s shares closed last Friday at $11.58, close to its 52-week high of $12.62.
According to TipRanks.com, Mccrea is a 5-star analyst with an average return of 15.7% and a 53.0% success rate. Mccrea covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Crescent Point Energy.
Currently, the analyst consensus on ARC Resources is a Strong Buy with an average price target of $14.53, which is a 21.1% upside from current levels. In a report issued on January 31, RBC Capital also maintained a Buy rating on the stock with a C$17.00 price target.
ARC Resources’ market cap is currently $7.91B and has a P/E ratio of 19.71.
Based on the recent corporate insider activity of 50 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.
Read More on AETUF:
- Canaccord Genuity Sticks to Its Buy Rating for RioCan Real Estate Investment (RIOCF)
- Raymond James Reaffirms Their Buy Rating on Precision Drilling (PDS)
- Analysts Are Bullish on Top Technology Stocks: Telus (TU), DZS (DZSI)
- Analysts Offer Insights on Financial Companies: Brookfield Asset Mng (BAM) and RioCan Real Estate Investment (OtherRIOCF)
- Analysts Have Conflicting Sentiments on These Materials Companies: Barrick Gold (GOLD) and Aurora Cannabis (ACB)