ARC Resources (TSE:ARX) Shares Pass Above Two Hundred Day Moving Average of $22.32

ARC Resources Ltd. (TSE:ARX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$22.32 and traded as high as C$25.74. ARC Resources shares last traded at C$25.72, with a volume of 1,138,747 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of ARC Resources from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Stifel Nicolaus boosted their price objective on shares of ARC Resources from C$29.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. BMO Capital Markets boosted their price objective on shares of ARC Resources from C$25.00 to C$28.00 in a research report on Thursday, March 28th. Desjardins decreased their price objective on shares of ARC Resources from C$29.50 to C$29.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, TD Securities boosted their price objective on shares of ARC Resources from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, ARC Resources has an average rating of “Moderate Buy” and a consensus price target of C$28.75.

ARC Resources Stock Performance

The stock’s 50 day moving average price is C$24.50 and its 200 day moving average price is C$22.32. The company has a current ratio of 0.91, a quick ratio of 0.42 and a debt-to-equity ratio of 29.74. The company has a market cap of C$15.37 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 0.29 and a beta of 1.33.

ARC Resources (TSE:ARX) last posted its earnings results on Thursday, February 8th. The oil and gas exploration company reported C$0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.50 by C$0.34. The firm had revenue of C$1.00 million during the quarter. ARC Resources had a net margin of 28.23% and a return on equity of 22.67%. On average, analysts expect that ARC Resources Ltd. will post 2.0708333 EPS for the current fiscal year.

ARC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Wednesday, March 27th. ARC Resources’s dividend payout ratio (DPR) is presently 26.05%.

Insider Buying and Selling

In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. In other ARC Resources news, Senior Officer Kristen Jon Bibby sold 8,131 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$23.77, for a total value of C$193,273.87. Also, Senior Officer Terry Michael Anderson sold 83,461 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$22.98, for a total transaction of C$1,917,875.36. Corporate insiders own 0.38% 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.