ARC Resources (TSE:ARX) Shares Cross Above 200 Day Moving Average – What’s Next?

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 traded.

Analyst Upgrades and Downgrades

ARX has been the topic of several research reports. National Bankshares upped their price target on shares of ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Desjardins upped 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 research report on Tuesday, July 23rd. Canaccord Genuity Group upped their target price on shares of ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. Scotiabank upped their target price on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, TD Securities upped their target price on shares of 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. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$30.96.

ARC Resources Trading Down 1.0 %

The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49. The company has a market capitalization of C$15.17 billion, a P/E ratio of 13.19, a PEG ratio of 0.29 and a beta of 1.26. The business has a 50 day moving average price of C$23.75 and a 200 day moving average price of C$24.38.

ARC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.67%. 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.