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

Shares of ARC Resources Ltd. (TSE:ARX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$24.67 and traded as high as C$25.17. ARC Resources shares last traded at C$24.65, with a volume of 2,021,914 shares traded.

Analyst Upgrades and Downgrades

ARX has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. UBS Group lifted their price objective on shares of ARC Resources from C$31.00 to C$33.00 in a report on Monday, December 9th. TD Securities increased 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. CIBC lifted their price target on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Finally, BMO Capital Markets increased their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$32.29.

ARC Resources Stock Up 5.1 %

The stock has a 50-day moving average of C$25.74 and a 200-day moving average of C$24.67. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The firm has a market cap of C$15.44 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources (TSE:ARX) last released its earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 earnings per share (EPS) for the quarter, topping 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 company posted $0.39 EPS. Sell-side analysts predict that ARC Resources Ltd. will post 2.7255139 EPS for the current fiscal year.

ARC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.93%. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio (DPR) is 35.23%.

Insiders Place Their Bets

In other ARC Resources 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. Corporate insiders own 0.40% of the company’s stock.

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.