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

ARC Resources Ltd. (TSE:ARX) shares passed 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 trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group boosted 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 target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. TD Securities upped their price target on shares of ARC Resources from C$30.00 to C$31.00 and gave the company 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. Finally, CIBC upped their price target on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$32.04.

ARC Resources Stock Down 1.5 %

The stock’s fifty day moving average price is C$25.74 and its 200 day moving average price is C$24.67. The stock has a market cap of C$14.70 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 EPS for the quarter, topping analysts’ consensus estimates of C$0.34 by C$0.21. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. During the same period last year, the business posted $0.39 EPS. As a group, research analysts forecast that ARC Resources Ltd. will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.08%. This is a positive change from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio (DPR) is currently 35.23%.

Insider Activity at ARC Resources

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total transaction of C$828,360.57. 0.40% of the stock is owned by insiders.

About ARC Resources

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.