ARC Resources Ltd T.ARX

Today' G&M

[Nadia6519]

After increases to the firm’s crude and natural gas price assumptions through 2023, equity analysts at Raymond James raised their target prices for energy stocks in their coverage universe.

For senior producers, their changes were:

• Canadian Natural Resources Ltd. (
  CNQ-T +0.47%increase
   
  , “outperform”) to $87 from $77. Average:
• Cenovus Energy Inc. (
  CVE-T -0.05%decrease
   
  , “outperform”) to $27 from $22. Average: $23.48.
• Imperial Oil Ltd. (
  IMO-T +1.69%increase
   
  , “market perform”) to $65 from $57. Average: $80.41.
• Ovintiv Inc. (OVV-N/
  OVV-T +1.57%increase
   
  , “market perform”) to US$60 from US$52. Average: US$56.62.
• Suncor Energy Inc. (
  SU-T +1.60%increase
   
  , “outperform”) to $50 from $46. Average: $46.18.

Their adjustments for intermediate producers were:

• Advantage Energy Ltd. (
  AAV-T +3.79%increase
   
  , “outperform”) to $12 from $9.50. Average: $10.19.
• ARC Resources Ltd. (
  ARX-T +1.09%increase
   
  , “outperform”) to $22 from $17.50. Average: $20.23.
• Baytex Energy Corp. (
  BTE-T +0.71%increase
   
  , “outperform”) to $9 from $6.50. Average: $6.43.
• Birchcliff Energy Ltd. (
  BIR-T +1.28%increase
   
  , “outperform”) to $11 from $10. Average: $9.96.
• Crescent Point Energy Corp. (
  CPG-T +1.49%increase
   
  ) to $12 from $10. Average: $11.91.
• Enerplus Corp. (ERF-N/
  ERF-T +0.51%increase
   
  , “outperform”) to US$20 from US$15.50. Average: $19.21.
• Freehold Royalties Ltd. (
  FRU-T +1.66%increase
   
  , “outperform”) to $20 from $19. Average: $18.04.
• Kelt Exploration Ltd. (
  KEL-T +1.47%increase
   
  , “outperform”) to $8 from $6.50. Average: $7.77.
• NuVista Energy Ltd. (
  NVA-T +1.33%increase
   
  , “outperform”) to $14.50 from $11.50. Average: $12.48.
• Paramount Resources Ltd. (
  POU-T +1.43%increase
   
  , “outperform”) to $37 from $33. Average: $34.75.
• Peyto Exploration & Development Corp. (
  PEY-T +2.17%increase
   
  , “outperform”) to $15 from $13. Average: $14.80.
• PrairieSky Royalty Ltd. (
  PSK-T +1.20%increase
   
  , “outperform”) to $26 from $22.50. Average: $20.55.
• Spartan Delta Corp. (
  SDE-T -0.65%decrease
   
  , “outperform”) to $13 from $10. Average: $13.27.
• Tamarack Valley Energy Ltd. (
  TVE-T +1.36%increase
   
  , “strong buy”) to $7 from $6. Average: $6.96.
• Topaz Energy Corp. (
  TPZ-T +1.35%increase
   
  , “strong buy”) to $27 from $26. Average: $24.89.
• Tourmaline Oil Corp. (
  TOU-T +1.80%increase
   
  , “strong buy”) to $80 from $70. Average: $68.08.
• Vermilion Energy Inc. (
  VET-T +1.99%increase
   
  , “outperform”) to $38 from $30. Average: $27.10.
• Whitecap Resources Inc. (
  WCP-T +2.11%increase
   
  , “strong buy”) to $14.50 from $12.50. Average: $12.89.