ARC Resources (TSE:ARX) Stock Crosses Above 200-Day Moving Average – Here’s Why

ARC Resources Ltd. (TSE:ARX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$25.78 and traded as high as C$27.01. ARC Resources shares last traded at C$26.63, with a volume of 1,274,468 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ARX shares. National Bankshares raised their price objective on ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Raymond James cut their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, April 9th. UBS Group reduced their price objective on shares of ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. CIBC lowered their target price on shares of ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th. Finally, TD Securities upped their price target on ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$32.29.

ARC Resources Price Performance

The stock has a fifty day moving average of C$26.65 and a 200 day moving average of C$25.78. The stock has a market cap of C$15.67 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42.

ARC Resources Company Profile

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.