ARC Resources (TSE:ARX) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

ARC Resources Ltd. (TSE:ARX) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$26.47 and traded as high as C$31.11. ARC Resources shares last traded at C$30.95, with a volume of 5,583,925 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Securities downgraded ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, April 27th. Desjardins cut their price objective on ARC Resources from C$31.00 to C$27.00 and set a “buy” rating for the company in a research report on Monday, February 9th. BMO Capital Markets downgraded ARC Resources from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from C$30.00 to C$32.00 in a research report on Tuesday, April 28th. Jefferies Financial Group downgraded ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Finally, ATB Cormark Capital Markets downgraded ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price objective for the company. in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$29.98.

ARC Resources Stock Down 1.1%

The business has a 50-day moving average of C$28.92 and a 200-day moving average of C$26.47. The stock has a market capitalization of C$17.50 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 0.29 and a beta of -0.27. The company has a debt-to-equity ratio of 43.61, a quick ratio of 0.42 and a current ratio of 0.87.

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

ARC Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, March 31st. ARC Resources’s dividend payout ratio (DPR) 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.