ARC Resources (TSE:ARX) Stock Passes Above 200 Day Moving Average – Here’s Why

ARC Resources Ltd. (TSE:ARX) 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 changing hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ARX shares. ATB Cormark Capital Markets cut ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price objective for the company. in a report on Tuesday, April 28th. Canadian Imperial Bank of Commerce cut ARC Resources from a “neutral” rating to a “tender” rating and raised their price objective for the company from C$29.00 to C$32.00 in a report on Tuesday, April 28th. National Bank Financial cut ARC Resources from an “outperform” rating to a “hold” rating and decreased their price objective for the company from C$27.00 to C$26.00 in a report on Friday, February 6th. Jefferies Financial Group cut ARC Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Desjardins decreased their price objective on ARC Resources from C$31.00 to C$27.00 and set a “buy” rating for the company in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$29.98.

ARC Resources Price Performance

The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 43.61. The firm has a market cap of C$17.65 billion, a P/E ratio of 12.34, a PEG ratio of 0.29 and a beta of -0.27. The business has a fifty day moving average of C$28.98 and a 200 day moving average of C$26.52.

ARC Resources (TSE:ARX) last posted its quarterly 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 business had revenue of C$2.10 billion during the quarter. On average, sell-side analysts anticipate that ARC Resources Ltd. will post 2.7255139 earnings per share for the current year.

ARC Resources Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, March 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.7%. 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.