ARC Resources (TSE:ARX) Shares Pass Above Two Hundred Day Moving Average of $22.32

ARC Resources Ltd. (TSE:ARX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$22.32 and traded as high as C$25.74. ARC Resources shares last traded at C$25.72, with a volume of 1,138,747 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their target price on ARC Resources from C$29.00 to C$31.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Canaccord Genuity Group lowered ARC Resources from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$25.00 to C$27.00 in a research note on Wednesday, April 17th. Raymond James dropped their price objective on ARC Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Jefferies Financial Group lifted their price objective on ARC Resources from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, TD Securities lifted their price objective on ARC Resources from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$28.75.

ARC Resources Trading Up 1.3 %

The firm has a market capitalization of C$15.37 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 0.29 and a beta of 1.33. The business has a 50-day moving average of C$24.50 and a two-hundred day moving average of C$22.32. The company has a quick ratio of 0.42, a current ratio of 0.91 and a debt-to-equity ratio of 29.74.

ARC Resources (TSE:ARX) last released its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.50 by C$0.34. ARC Resources had a return on equity of 22.67% and a net margin of 28.23%. The business had revenue of C$1.00 million for the quarter. Research analysts predict that ARC Resources Ltd. will post 2.0708333 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s payout ratio is 26.05%.

Insider Buying and Selling at ARC Resources

In related news, Senior Officer Terry Michael Anderson sold 83,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total value of C$1,917,875.36. In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total transaction of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Company insiders own 0.38% of the company’s stock.

ARC Resources Company Profile

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.