ARC Resources (TSE:ARX) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

ARC Resources Ltd. (TSE:ARX) passed 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 trading hands.

Wall Street Analysts Forecast Growth

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

ARC Resources Stock Performance

The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The stock has a market cap of C$16.38 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.29 and a beta of 1.26. The stock’s 50-day moving average is C$26.27 and its 200 day moving average is C$25.19.

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.