ARC Resources (TSE:ARX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

ARC Resources Ltd. (TSE:ARX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.16 and traded as high as C$29.43. ARC Resources shares last traded at C$29.15, with a volume of 1,584,871 shares.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ARX. National Bankshares boosted their price target on ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group reduced their price target on shares of ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. Desjardins lifted their price target on shares of ARC Resources from C$33.50 to C$34.50 and gave the company a “buy” rating in a report on Monday, May 5th. TD Securities increased their price objective on shares of ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, CIBC decreased their target price on ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ARC Resources presently has an average rating of “Buy” and an average target price of C$32.32.

ARC Resources Price Performance

The business’s 50-day simple moving average is C$26.90 and its 200 day simple moving average is C$26.16. The company has a market capitalization of C$17.16 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05.

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.