ARC Resources (TSE:ARX) Stock Price Crosses Above 200-Day Moving Average of $16.78

Shares of ARC Resources Ltd. (TSE:ARX – Get Rating) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$16.78 and traded as high as C$17.29. ARC Resources shares last traded at C$17.27, with a volume of 1,921,550 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. ATB Capital boosted their target price on shares of ARC Resources from C$21.00 to C$21.50 in a research note on Friday, May 5th. CIBC decreased their target price on ARC Resources from C$25.00 to C$22.00 in a report on Friday, April 14th. Stifel Nicolaus decreased their price target on ARC Resources from C$22.50 to C$21.00 in a report on Friday, February 10th. Scotiabank cut their target price on ARC Resources from C$29.00 to C$27.00 in a research report on Tuesday, January 17th. Finally, National Bankshares upped their price target on ARC Resources from C$18.50 to C$23.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$23.32.

ARC Resources Stock Performance

The firm has a 50 day moving average of C$16.00 and a 200-day moving average of C$16.78. The company has a debt-to-equity ratio of 26.83, a quick ratio of 0.42 and a current ratio of 0.57. The stock has a market capitalization of C$10.72 billion, a PE ratio of 4.86, a P/E/G ratio of 0.29 and a beta of 1.54.

ARC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.17 per share. This is a positive change from ARC Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.94%. ARC Resources’s dividend payout ratio is currently 16.90%.

About ARC Resources

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ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, and natural gas liquids in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Pembina Cardium properties in central Alberta. As of December 31, 2020, it had proved plus probable reserves of 929 millions of barrels of oil equivalent.