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

ARC Resources Ltd. (TSE:ARX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 changing hands.

Analyst Upgrades and Downgrades

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

ARC Resources Stock Performance

The firm has a fifty day moving average of C$24.77 and a 200-day moving average of C$25.28. The company has a quick ratio of 0.42, a current ratio of 0.70 and a debt-to-equity ratio of 58.50. The firm has a market cap of C$14.97 billion, a P/E ratio of 11.98, a PEG ratio of 0.29 and a beta of -0.06.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share for the quarter. ARC Resources had a return on equity of 15.52% and a net margin of 20.99%.The firm had revenue of C$1.58 billion during the quarter. Research analysts predict that ARC Resources Ltd. will post 2.7255139 earnings per share 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.