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

ARC Resources Ltd. (TSE:ARX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.64 and traded as high as C$31.35. ARC Resources shares last traded at C$31.14, with a volume of 3,510,764 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ARX shares. Scotiabank raised shares of ARC Resources to a “hold” rating in a research note on Wednesday, April 1st. Capital One Financial cut ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Canaccord Genuity Group cut ARC Resources from a “buy” rating to a “hold” rating and increased their target price for the company from C$31.00 to C$32.00 in a report on Tuesday, April 28th. BMO Capital Markets downgraded ARC Resources from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$30.00 to C$32.00 in a research report on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce cut ARC Resources from a “neutral” rating to a “tender” rating and boosted their price target for the stock from C$29.00 to C$32.00 in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$29.98.

ARC Resources Trading Up 0.6%

The business’s fifty day moving average price is C$30.96 and its 200 day moving average price is C$27.71. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 43.61. The firm has a market capitalization of C$17.61 billion, a PE ratio of 12.29, a P/E/G ratio of 0.29 and a beta of -0.36.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share (EPS) for the quarter. The business had revenue of C$2.10 billion for the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. As a group, analysts expect that ARC Resources Ltd. will post 2.7255139 EPS for the current fiscal year.

ARC Resources Company Profile

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.