ARC Resources (TSE:ARX) Stock Price Passes Above 200 Day Moving Average of $22.18

ARC Resources Ltd. (TSE:ARX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.18 and traded as high as C$25.84. ARC Resources shares last traded at C$24.93, with a volume of 2,111,631 shares trading hands.

Analyst Upgrades and Downgrades

ARX has been the subject of several research reports. CIBC lifted their price target on shares of ARC Resources from C$26.00 to C$30.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. National Bankshares boosted their price objective on ARC Resources from C$25.00 to C$33.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Raymond James lowered 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. BMO Capital Markets lifted their target price on ARC Resources from C$25.00 to C$28.00 in a report on Thursday, March 28th. Finally, Desjardins cut their price objective on ARC Resources from C$29.50 to C$29.00 and set a “buy” rating for the company in a report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, ARC Resources presently has an average rating of “Moderate Buy” and an average target price of C$28.75.

ARC Resources Stock Performance

The company has a quick ratio of 0.42, a current ratio of 0.91 and a debt-to-equity ratio of 29.74. The company has a market cap of C$14.90 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.29 and a beta of 1.33. The business has a fifty day moving average of C$24.19 and a 200 day moving average of C$22.18.

ARC Resources (TSE:ARX) last released its quarterly earnings data on Thursday, February 8th. The oil and gas exploration company reported C$0.84 EPS for the quarter, beating the consensus estimate 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 company had revenue of C$1.00 million for the quarter. On average, equities analysts predict that ARC Resources Ltd. will post 2.0857143 EPS for the current year.

ARC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s dividend payout ratio is 26.05%.

Insider Transactions at ARC Resources

In related news, Senior Officer Kristen Jon Bibby sold 8,131 shares of ARC Resources stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$23.77, for a total transaction of C$193,273.87. In other news, Senior Officer Terry Michael Anderson sold 83,461 shares of ARC Resources stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$22.98, for a total value of C$1,917,875.36. Also, Senior Officer Kristen Jon Bibby sold 8,131 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. Corporate insiders own 0.07% 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.