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

ARC Resources Ltd. (TSE:ARX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analysts Set New Price Targets

ARX has been the topic of several analyst reports. TD Securities raised their target price on ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group increased their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. National Bankshares lifted their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. CIBC raised their price objective on shares of ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. Finally, BMO Capital Markets upped their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ARC Resources has a consensus rating of “Buy” and an average price target of C$32.29.

ARC Resources Price Performance

The company has a market cap 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 current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05. The business has a 50-day moving average price of C$26.28 and a 200 day moving average price of C$25.21.

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.