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

Shares of ARC Resources Ltd. (TSE:ARX) crossed 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group upped their price target on ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. Scotiabank upped their target price on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. CIBC raised their price target on ARC Resources from C$33.00 to C$34.00 in a research report on Friday, November 8th. TD Securities boosted their price objective on shares of ARC Resources from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Desjardins raised their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$30.96.

ARC Resources Price Performance

The company has a market capitalization of C$15.17 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a fifty day simple moving average of C$23.75 and a two-hundred day simple moving average of C$24.38. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88.

ARC Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.17 per share. The ex-dividend date was Friday, September 27th. This represents a $0.68 annualized dividend and a yield of 2.67%. ARC Resources’s dividend payout ratio (DPR) is presently 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.