ARC Resources (TSE:ARX) Stock Crosses Above 200-Day Moving Average of $23.36

Shares of ARC Resources Ltd. (TSE:ARXGet Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.36 and traded as high as C$25.38. ARC Resources shares last traded at C$24.83, with a volume of 2,211,197 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. CIBC lifted their target price on shares of ARC Resources from C$30.00 to C$31.00 in a report on Friday, May 10th. ATB Capital lifted their target price on shares of ARC Resources from C$26.00 to C$27.00 in a report on Friday, June 28th. TD Securities lifted their target price on shares of ARC Resources from C$27.00 to C$29.00 in a report on Friday, May 10th. Desjardins lifted their target price on shares of ARC Resources from C$29.00 to C$30.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Jefferies Financial Group lifted their target price on shares of ARC Resources from C$28.00 to C$30.00 and gave the stock a “buy” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, ARC Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.92.

Check Out Our Latest Research Report on ARX

ARC Resources Stock Down 1.7 %

The firm’s 50-day moving average price is C$25.02 and its 200 day moving average price is C$23.36. The company has a market capitalization of C$14.84 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.29 and a beta of 1.32. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 29.15.

ARC Resources (TSE:ARXGet Free Report) last issued its earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.31 EPS for the quarter, missing the consensus estimate of C$0.48 by C($0.17). The firm had revenue of C$1.31 billion during the quarter, compared to analyst estimates of C$1.08 billion. ARC Resources had a net margin of 22.74% and a return on equity of 16.66%. On average, sell-side analysts forecast that ARC Resources Ltd. will post 1.9710258 EPS for the current fiscal year.

ARC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, June 28th. ARC Resources’s dividend payout ratio is 34.17%.

Insider Buying and Selling

In related news, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$25.62, for a total transaction of C$447,595.38. In related news, Senior Officer Armin Jahangiri sold 24,343 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of C$25.47, for a total transaction of C$619,913.97. Also, Senior Officer Brian Rognvald Groundwater sold 17,470 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$25.62, for a total transaction of C$447,595.38. Insiders sold a total of 118,705 shares of company stock worth $3,029,226 in the last three months. 0.38% of the stock is owned by corporate insiders.

ARC Resources Company Profile

(Get Free Report)

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.

Further Reading

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