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

ARC Resources Ltd. (TSE:ARX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.23 and traded as high as C$30.24. ARC Resources shares last traded at C$30.14, with a volume of 3,584,013 shares trading hands.

Wall Street Analysts Forecast Growth

ARX has been the topic of several research reports. TD Securities lowered ARC Resources from a “strong-buy” rating to a “strong sell” rating in a report on Monday, April 27th. Raymond James Financial increased their price objective on shares of ARC Resources from C$29.00 to C$32.80 in a research note on Tuesday, April 28th. Scotiabank upgraded shares of ARC Resources to a “hold” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets cut shares of ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 target price for the company. in a research report on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce downgraded shares of ARC Resources from a “neutral” rating to a “tender” rating and upped their price target for the company from C$29.00 to C$32.00 in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$29.98.

ARC Resources Trading Down 1.5%

The business has a 50 day simple moving average of C$29.86 and a two-hundred day simple moving average of C$27.23. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 43.61. The company has a market cap of C$17.07 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 0.29 and a beta of -0.34.

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

ARC Resources Dividend Announcement

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 $0.21 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.8%. ARC Resources’s dividend payout ratio (DPR) is presently 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.