ARC Resources (TSE:ARX) Stock Price 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 Tuesday . The stock has a two hundred day moving average of C$26.54 and traded as high as C$29.88. ARC Resources shares last traded at C$29.64, with a volume of 1,232,266 shares changing hands.

Analyst Ratings Changes

Several equities analysts have weighed in on ARX shares. UBS Group lowered their target price on ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. Desjardins boosted their price objective on shares of ARC Resources from C$34.50 to C$35.50 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Royal Bank of Canada upped their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. National Bankshares lifted their target price on shares of ARC Resources from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Finally, TD Securities boosted their price target on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a report on Friday, February 7th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARC Resources has a consensus rating of “Buy” and an average price target of C$33.17.

ARC Resources Trading Up 1.4%

The firm’s fifty day simple moving average is C$27.29 and its 200 day simple moving average is C$26.54. The stock has a market capitalization of C$17.44 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14.

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.