ARC Resources (TSE:ARX) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• ARC Resources Ltd. stock price surpassed its 200-day moving average of C$27.34, reaching a high of C$27.77 before last trading at C$27.05.
• Several analysts have upgraded their price targets, with ATB Capital and National Bankraising their targets to C$33.50 and C$35.00 respectively, both rating the stock as "outperform."
• The company recently declared a quarterly dividend of $0.19, translating to an annual yield of 2.8% and a payout ratio of 35.86%.

ARC Resources Ltd. (TSE:ARX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.34 and traded as high as C$27.77. ARC Resources shares last traded at C$27.05, with a volume of 2,424,597 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. CIBC reduced their price objective on ARC Resources from C$35.00 to C$33.00 in a research note on Thursday, April 10th. BMO Capital Markets raised their target price on ARC Resources from C$32.00 to C$33.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada raised their target price on ARC Resources from C$32.00 to C$34.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. UBS Group cut their target price on ARC Resources from C$35.00 to C$34.00 in a research note on Thursday, April 17th. Finally, National Bankshares raised their target price on ARC Resources from C$33.00 to C$35.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, ARC Resources presently has an average rating of "Buy" and an average target price of C$33.25.

ARC Resources Price Performance

The company has a market capitalization of C$16.09 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The business has a 50 day moving average price of C$28.57 and a 200-day moving average price of C$27.35.

ARC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 30th. ARC Resources's dividend payout ratio is 35.86%.

ARC Resources Company Profile

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.