ARC Resources (TSE:ARX) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of ARC Resources Ltd. (TSE:ARX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$24.66 and traded as high as C$25.51. ARC Resources shares last traded at C$25.36, with a volume of 1,181,635 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. TD Securities lifted their price objective on ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their price target on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. BMO Capital Markets increased their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Finally, CIBC boosted their target price on shares of ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$31.88.

ARC Resources Stock Performance

The stock has a market cap of C$15.12 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The firm’s 50 day moving average is C$25.90 and its 200 day moving average is C$24.66.

ARC Resources (TSE:ARX) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 EPS for the quarter, beating the consensus estimate of C$0.34 by C$0.21. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. During the same quarter last year, the firm posted $0.39 earnings per share. Analysts anticipate that ARC Resources Ltd. will post 2.7255139 EPS for the current year.

ARC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.00%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio is 35.23%.

Insider Buying and Selling

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total value of C$828,360.57. 0.40% of the stock is currently owned by corporate insiders.

ARC Resources Company Profile

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.