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

ARC Resources Ltd. (TSE:ARX)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$24.76 and traded as high as C$26.99. ARC Resources shares last traded at C$26.61, with a volume of 948,799 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on shares of ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. CIBC increased their price objective on shares of ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. UBS Group increased their price target on shares of ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. Finally, Canaccord Genuity Group increased their price target on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$32.29.

ARC Resources Stock Performance

The firm has a market cap of C$15.66 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The firm has a fifty day moving average price of C$25.90 and a 200 day moving average price of C$24.76. The company has a current ratio of 1.14, a quick ratio of 0.42 and a debt-to-equity ratio of 30.05.

ARC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.19 dividend. This is a positive change from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 2.86%. ARC Resources’s payout ratio is 35.86%.

Insider Buying and Selling at ARC Resources

In other news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total transaction 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.