ARC Resources (TSE:ARX) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Shares of ARC Resources Ltd. (TSE:ARX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$24.38 and traded as high as C$25.22. ARC Resources shares last traded at C$25.16, with a volume of 1,917,546 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ARX shares. TD Securities boosted their target price on ARC Resources from C$30.00 to C$31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BMO Capital Markets boosted their price objective on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. CIBC lifted their price target on shares of ARC Resources from C$33.00 to C$34.00 in a research note on Friday, November 8th. National Bankshares raised their price objective on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group upped their target price on ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Nine 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.com, the company presently has an average rating of “Buy” and a consensus price target of C$31.35.

ARC Resources Trading Up 0.5 %

The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The company has a market capitalization of C$15.08 billion, a P/E ratio of 13.10, a PEG ratio of 0.29 and a beta of 1.26. The company’s fifty day simple moving average is C$24.68 and its 200-day simple moving average is C$24.37.

ARC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.01%. This is a boost from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio (DPR) is 35.23%.

Insider Transactions at ARC Resources

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total transaction of C$828,360.57. Corporate insiders own 0.40% of the company’s stock.

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.