ARC Resources (TSE:ARX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

ARC Resources Ltd. (TSE:ARX)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$25.19 and traded as high as C$28.05. ARC Resources shares last traded at C$27.83, with a volume of 1,170,576 shares traded.

Analyst Ratings Changes

Several research analysts have commented on ARX shares. National Bankshares lifted their price target on ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group raised their target price on shares of ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. Jefferies Financial Group boosted their price target on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. TD Securities raised their price objective on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, CIBC increased their target price on ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$32.29.

ARC Resources Price Performance

The company has a market capitalization of C$16.52 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a fifty day simple moving average of C$26.28 and a two-hundred day simple moving average of C$25.21. 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.