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

Shares of ARC Resources Ltd. (TSE:ARX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$29.63 and traded as high as C$33.75. ARC Resources shares last traded at C$33.34, with a volume of 6,045,258 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada raised their target price on shares of ARC Resources from C$28.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ARC Resources has an average rating of “Hold” and a consensus price target of C$30.35.

ARC Resources Stock Down 0.0%

The business’s 50 day moving average is C$32.05 and its 200 day moving average is C$29.66. The company has a debt-to-equity ratio of 39.16, a quick ratio of 0.42 and a current ratio of 0.88. The stock has a market cap of C$18.86 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.29 and a beta of -0.37.

ARC Resources (TSE:ARX) last announced its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 earnings per share (EPS) for the quarter. The company had revenue of C$2.16 billion for the quarter. ARC Resources had a net margin of 19.29% and a return on equity of 16.64%. Equities analysts expect that ARC Resources Ltd. will post 2.7255139 earnings per share 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.