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ARC Resources (TSE:ARX) Shares Cross Above 200-Day Moving Average - Here's Why

ARC Resources logo with Energy background

ARC Resources Ltd. (TSE:ARX - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$26.67 and traded as high as C$30.04. ARC Resources shares last traded at C$29.78, with a volume of 1,868,790 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on ARX. Royal Bank of Canada boosted their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. UBS Group lowered their price target on shares of ARC Resources from C$35.00 to C$34.00 in a research report on Thursday, April 17th. CIBC lowered their price target on shares of ARC Resources from C$35.00 to C$33.00 in a research report on Thursday, April 10th. ATB Capital boosted their price objective on shares of ARC Resources from C$31.00 to C$33.50 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, National Bankshares boosted their price objective 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. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$33.17.

Check Out Our Latest Research Report on ARC Resources

ARC Resources Trading Up 1.8%

The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The firm has a market cap of C$18.04 billion, a PE ratio of 16.17, a PEG ratio of 0.29 and a beta of 1.26. The stock's 50 day simple moving average is C$27.64 and its 200 day simple moving average is C$26.73.

About ARC Resources

(Get Free Report)

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.

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