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

ARC Resources Ltd. (TSE:ARX – Get Rating) crossed 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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARX. Raymond James dropped their price objective on shares of ARC Resources from C$22.00 to C$20.00 and set an “outperform” rating on the stock in a report on Friday, February 10th. Stifel Nicolaus cut their price objective on shares of ARC Resources from C$22.50 to C$21.00 in a research report on Friday, February 10th. CIBC lowered their price objective on shares of ARC Resources from C$25.00 to C$22.00 in a research note on Friday, April 14th. Royal Bank of Canada set a C$26.00 price objective on ARC Resources and gave the company an “outperform” rating in a report on Friday, February 10th. Finally, ATB Capital lifted their price objective on ARC Resources from C$21.00 to C$21.50 in a report on Friday, May 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$23.32.

ARC Resources Stock Performance

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

ARC Resources Increases Dividend

The company also recently declared 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 boost from ARC Resources’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, June 29th. ARC Resources’s payout ratio is 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.