ARC Resources (TSE:ARX) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

ARC Resources Ltd. (TSE:ARX) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$26.76 and traded as high as C$27.12. ARC Resources shares last traded at C$26.77, with a volume of 2,281,178 shares traded.

Analyst Upgrades and Downgrades

ARX has been the topic of a number of recent analyst reports. Raymond James Financial decreased their price target on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Jefferies Financial Group dropped their target price on shares of ARC Resources from C$30.00 to C$28.00 in a research report on Monday, November 10th. CIBC cut their price target on shares of ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Scotiabank downgraded shares of ARC Resources from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$36.00 to C$30.00 in a research report on Friday, November 7th. Finally, National Bankshares reduced their target price on ARC Resources from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$32.41.

ARC Resources Stock Down 1.4%

The firm’s fifty day moving average is C$25.47 and its 200-day moving average is C$26.76. The company has a market capitalization of C$15.41 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 0.29 and a beta of -0.05. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14.

ARC Resources (TSE:ARX) last issued its earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 earnings per share for the quarter. The firm had revenue of C$1.38 billion for the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. As a group, equities research analysts predict that ARC Resources Ltd. will post 2.7255139 EPS for the current year.

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.8%. ARC Resources’s payout ratio is presently 32.34%.

About ARC Resources

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.