ARC Resources Ltd. (TSE:ARX – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$24.42 and traded as high as C$25.04. ARC Resources shares last traded at C$24.53, with a volume of 1,762,073 shares.
Analyst Upgrades and Downgrades
ARX has been the subject of several recent research reports. Scotiabank boosted their price target on ARC Resources from C$33.00 to C$34.00 in a research note on Friday, July 12th. Desjardins boosted their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group cut their price target on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a report on Monday, September 16th. TD Securities decreased their price objective on shares of ARC Resources from C$31.00 to C$30.00 in a report on Tuesday, October 1st. Finally, UBS Group lowered their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARC Resources currently has a consensus rating of “Buy” and a consensus price target of C$30.39.
Get Our Latest Analysis on ARX
ARC Resources Trading Down 3.2 %
ARC Resources (TSE:ARX – Get Free Report) last announced its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share (EPS) for the quarter. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. The business had revenue of C$1.15 billion for the quarter, compared to analyst estimates of C$1.03 billion. On average, equities analysts expect that ARC Resources Ltd. will post 2.7255139 EPS for the current fiscal year.
ARC Resources Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a $0.17 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.68 annualized dividend and a yield of 2.77%. ARC Resources’s dividend payout ratio (DPR) is 35.23%.
About ARC Resources
ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.
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