ARC Resources (TSE:ARX) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Shares of ARC Resources Ltd. (TSE:ARX - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on ARX shares. National Bankshares raised 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 report on Thursday, May 22nd. UBS Group reduced their price target on shares of ARC Resources from C$35.00 to C$34.00 in a report on Thursday, April 17th. CIBC reduced their price target on shares of ARC Resources from C$35.00 to C$33.00 in a report on Thursday, April 10th. Royal Bank of Canada lifted 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 report on Thursday, May 22nd. Finally, ATB Capital lifted their price target on shares of ARC Resources from C$31.00 to C$33.50 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Seven equities 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.com, ARC Resources currently has an average rating of "Buy" and an average target price of C$33.17.

ARC Resources Stock Up 1.7%

The firm has a market capitalization of C$17.41 billion, a PE ratio of 15.60, a PEG ratio of 0.29 and a beta of 1.26. The business's 50 day simple moving average is C$27.31 and its 200 day simple moving average is C$26.60. 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.