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

ARC Resources Ltd. (TSE:ARX)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.11 and traded as high as C$26.76. ARC Resources shares last traded at C$26.37, with a volume of 2,317,225 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARX. TD Securities boosted their target price on shares of ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group boosted their price objective on shares of ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. UBS Group raised their target price on shares of ARC Resources from C$31.00 to C$33.00 in a research note on Monday, December 9th. BMO Capital Markets boosted their price target on ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Finally, CIBC raised their price objective on ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$32.29.

ARC Resources Price Performance

The firm has a market capitalization of C$15.52 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 0.29 and a beta of 1.26. The company’s 50 day moving average is C$26.29 and its 200 day moving average is C$25.11. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05.

ARC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.88%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s payout ratio is presently 35.86%.

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.