ARC Resources (TSE:ARX) Stock Crosses Above 200 Day Moving Average – What’s Next?

ARC Resources Ltd. (TSE:ARX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$29.06 and traded as high as C$33.31. ARC Resources shares last traded at C$33.16, with a volume of 1,136,782 shares.

Analyst Upgrades and Downgrades

ARX has been the subject of a number of research analyst reports. Raymond James Financial increased their price target on ARC Resources from C$29.00 to C$32.80 in a research report on Tuesday, April 28th. Jefferies Financial Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada upped their price objective on ARC Resources from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. ATB Cormark Capital Markets lowered ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 target price for the company. in a research report on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce lowered ARC Resources from a “neutral” rating to a “tender” rating and raised their target price for the company from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$30.35.

ARC Resources Stock Up 0.8%

The firm has a market capitalization of C$18.76 billion, a PE ratio of 13.43, a P/E/G ratio of 0.29 and a beta of -0.37. The stock has a 50-day simple moving average of C$31.57 and a 200-day simple moving average of C$29.06. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 39.16.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 EPS for the quarter. The firm had revenue of C$2.16 billion for the quarter. ARC Resources had a return on equity of 16.64% and a net margin of 19.29%. Analysts forecast that ARC Resources Ltd. will post 2.7255139 EPS for the current year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.