ARC Resources (TSE:ARX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

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$25.28 and traded as high as C$26.00. ARC Resources shares last traded at C$25.91, with a volume of 4,085,745 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of ARC Resources from C$28.00 to C$27.00 in a research report on Tuesday, January 20th. Desjardins cut their price target on shares of ARC Resources from C$31.00 to C$27.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Scotiabank lowered their price objective on shares of ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 21st. Royal Bank Of Canada dropped their price objective on shares of ARC Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. Finally, Roth Mkm upgraded ARC Resources to a “strong-buy” rating in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, ARC Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$29.00.

ARC Resources Price Performance

The firm has a market capitalization of C$14.78 billion, a PE ratio of 11.83, a P/E/G ratio of 0.29 and a beta of 0.00. The firm’s fifty day moving average price is C$24.76 and its 200 day moving average price is C$25.28. The company has a current ratio of 0.70, a quick ratio of 0.42 and a debt-to-equity ratio of 58.50.

ARC Resources (TSE:ARX) last posted its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter. The company had revenue of C$1.58 billion during the quarter. ARC Resources had a net margin of 20.99% and a return on equity of 15.52%. As a group, equities analysts forecast that ARC Resources Ltd. will post 2.7255139 earnings per share for the current year.

About ARC Resources

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.