ARC Resources (TSE:ARX) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of ARC Resources Ltd. (TSE:ARX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$24.38 and traded as high as C$25.74. ARC Resources shares last traded at C$25.45, with a volume of 1,323,076 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on ARX. Scotiabank increased their target price on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Desjardins increased their price objective on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Cormark upgraded ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Jefferies Financial Group cut their price target on ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, TD Securities lifted their price objective on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ARC Resources currently has a consensus rating of “Buy” and a consensus target price of C$30.96.

ARC Resources Stock Down 1.0 %

The firm has a market capitalization of C$15.17 billion, a PE ratio of 13.19, a PEG ratio of 0.29 and a beta of 1.26. The business’s fifty day moving average price is C$23.75 and its 200 day moving average price is C$24.38. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49.

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, September 27th. ARC Resources’s payout ratio is 35.23%.

About ARC Resources

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.