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

Shares of ARC Resources Ltd. (TSE:ARX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$27.39 and traded as high as C$29.74. ARC Resources shares last traded at C$29.64, with a volume of 5,959,710 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ARX shares. TD Securities cut shares of ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, April 27th. BMO Capital Markets lowered ARC Resources from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$30.00 to C$32.00 in a research report on Tuesday, April 28th. Scotiabank raised ARC Resources to a “hold” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets lowered ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price target on the stock. in a research report on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce lowered ARC Resources from a “neutral” rating to a “tender” rating and upped their price target for the company from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ARC Resources presently has a consensus rating of “Hold” and a consensus target price of C$29.98.

ARC Resources Stock Performance

The company has a debt-to-equity ratio of 43.61, a quick ratio of 0.42 and a current ratio of 0.87. The stock has a fifty day simple moving average of C$30.37 and a two-hundred day simple moving average of C$27.39. The stock has a market capitalization of C$16.79 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 0.29 and a beta of -0.34.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share (EPS) for the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%.The company had revenue of C$2.10 billion for the quarter. Analysts forecast that ARC Resources Ltd. will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, March 31st. ARC Resources’s payout ratio is presently 31.62%.

About ARC Resources

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.