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

Shares of ARC Resources Ltd. (TSE:ARX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.23 and traded as high as C$30.24. ARC Resources shares last traded at C$30.14, with a volume of 3,584,013 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. TD Securities cut ARC Resources from a “strong-buy” rating to a “strong sell” rating in a report on Monday, April 27th. ATB Cormark Capital Markets lowered ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price target on the stock. in a research note on Tuesday, April 28th. Jefferies Financial Group lowered ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce cut ARC Resources from a “neutral” rating to a “tender” rating and boosted their price target for the stock from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. Finally, Capital One Financial downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ARC Resources presently has a consensus rating of “Hold” and a consensus price target of C$29.98.

ARC Resources Stock Down 1.0%

The stock has a market capitalization of C$16.90 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.29 and a beta of -0.34. The business’s 50-day moving average is C$29.93 and its two-hundred day moving average is C$27.25. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 43.61.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share (EPS) for the quarter. The company had revenue of C$2.10 billion during the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. Equities analysts anticipate that ARC Resources Ltd. will post 2.7255139 EPS for the current year.

ARC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a $0.21 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.8%. ARC Resources’s dividend payout ratio is 31.62%.

ARC Resources Company Profile

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.