ARC Resources (TSE:ARX) Stock Price Crosses Above Two Hundred Day Moving Average of $6.46
ARC Resources Ltd (TSE:ARX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.46 and traded as high as $6.77. ARC Resources shares last traded at $6.58, with a volume of 1,903,428 shares trading hands.
Several equities analysts have recently weighed in on ARX shares. CIBC cut their target price on shares of ARC Resources from C$11.00 to C$9.50 in a report on Tuesday, October 15th. Royal Bank of Canada cut their target price on shares of ARC Resources from C$10.00 to C$9.00 in a report on Friday, October 18th. Tudor Pickering & Holt reaffirmed a “buy” rating on shares of ARC Resources in a report on Friday, November 8th. Raymond James reaffirmed a “strong-buy” rating and set a C$8.25 target price on shares of ARC Resources in a report on Friday, November 8th. Finally, National Bank Financial cut their target price on shares of ARC Resources from C$10.50 to C$9.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$9.61.
The company has a current ratio of 0.52, a quick ratio of 0.26 and a debt-to-equity ratio of 25.44. The stock has a market capitalization of $2.38 billion and a PE ratio of 16.30. The firm’s fifty day moving average price is C$6.05 and its two-hundred day moving average price is C$6.46.
About ARC Resources (TSE:ARX)
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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