ARC Resources Ltd. (ARX:CA) is one of the better performing stocks in energy sector of the S&P/TSX Composite Index on September 22, rising 1.69% to $22.23 at the lunch break after closing the day prior at $21.86. So far in the day, shares of ARX:CA traded as high as $22.37 and as low as $22.07. Today’s advance comes with about 256,736 shares changing hands, compared to an average 30-day volume of 630,185 for ARC Resources Ltd.. The price is currently below the 30-day volume weighted average price of $22.23 for ARX:CA.
The share appreciation gives the company a market capitalization of $7.69 billion based upon 351.68 million shares outstanding. It also means that ARC Resources Lt has a price-to-book ratio of 2.3:1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of ARX:CA have traded as low as $14.43 and as high as $24.08. Technical traders will take note that at $22.23, shares of ARX:CA are trading above their 200-day MA at $19.73 and below their 50-day MA at $22.76. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is ARC Resources Lt?
ARC Resources Ltd, together with its subsidiaries, is engaged in the acquisition, exploration, and development of petroleum and natural gas properties. The company’s 560 employees are led by CEO Myron M. Stadnyk from the corporate headquarters at 308 – 4th Avenue South West.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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