ARC Resources (TSE:ARX) Stock Crosses Above Two Hundred Day Moving Average of $16.70

ARC Resources Ltd. (TSE:ARX – Get Rating)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$16.70 and traded as high as C$17.96. ARC Resources shares last traded at C$17.69, with a volume of 2,052,821 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James cut their target price on shares of ARC Resources from C$22.00 to C$20.00 and set an “outperform” rating for the company in a research report on Friday, February 10th. CIBC decreased their target price on ARC Resources from C$25.00 to C$22.00 in a research report on Friday, April 14th. ATB Capital lifted their price objective on ARC Resources from C$21.00 to C$21.50 in a research note on Friday, May 5th. BMO Capital Markets upped their target price on shares of ARC Resources from C$18.00 to C$19.00 in a research note on Friday, May 5th. Finally, National Bankshares lifted their price objective on ARC Resources from C$18.50 to C$23.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$23.32.

ARC Resources Stock Performance

The stock has a market capitalization of C$10.81 billion, a price-to-earnings ratio of 4.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.54. The stock’s 50-day simple moving average is C$16.25 and its 200 day simple moving average is C$16.70. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 27.57.

ARC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.84%. This is a boost from ARC Resources’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, June 29th. ARC Resources’s dividend payout ratio (DPR) is currently 15.38%.

ARC Resources Company Profile

(Get Rating)

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.