ARC Resources (TSE:ARX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of ARC Resources Ltd. (TSE:ARX) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$27.39 and traded as high as C$29.74. ARC Resources shares last traded at C$29.64, with a volume of 5,959,710 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce cut shares of ARC Resources from a “neutral” rating to a “tender” rating and lifted their price objective for the company from C$29.00 to C$32.00 in a research note on Tuesday, April 28th. Raymond James Financial upped their price objective on shares of ARC Resources from C$29.00 to C$32.80 in a report on Tuesday, April 28th. Scotiabank upgraded shares of ARC Resources to a “hold” rating in a research report on Wednesday, April 1st. Finally, BMO Capital Markets cut shares of ARC Resources from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$30.00 to C$32.00 in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$29.98.

ARC Resources Stock Performance

The company’s 50-day moving average price is C$30.37 and its two-hundred day moving average price is C$27.39. The company has a market cap of C$16.79 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 0.29 and a beta of -0.34. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 43.61.

ARC Resources (TSE:ARX) last released its earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 EPS for the quarter. The business had revenue of C$2.10 billion during the quarter. ARC Resources had a net margin of 22.18% and a return on equity of 17.43%. As a group, equities analysts forecast that ARC Resources Ltd. will post 2.7255139 earnings per share for the current year.

ARC Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, March 31st. ARC Resources’s dividend payout ratio is currently 31.62%.

About ARC Resources

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.