ARC Resources (TSE:ARX) Share Price Passes Above 200-Day Moving Average – Should You Sell?

ARC Resources Ltd. (TSE:ARX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.29 and traded as high as C$27.91. ARC Resources shares last traded at C$27.57, with a volume of 2,357,702 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on ARX. MKM Partners set a C$34.00 price target on ARC Resources and gave the stock a “buy” rating in a research report on Friday, December 19th. Scotiabank cut their price objective on 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 decreased their target price on ARC Resources from C$28.00 to C$27.00 in a research note on Tuesday, January 20th. BMO Capital Markets lowered their target price on ARC Resources from C$33.00 to C$28.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Finally, Raymond James Financial downgraded ARC Resources from a “moderate buy” rating to a “hold” rating and dropped their target price for the company from C$31.00 to C$28.00 in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, ARC Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.00.

ARC Resources Trading Down 0.6%

The company has a debt-to-equity ratio of 58.50, a current ratio of 0.70 and a quick ratio of 0.42. The business’s 50 day moving average is C$24.90 and its 200 day moving average is C$25.29. The stock has a market cap of C$15.73 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.29 and a beta of -0.06.

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