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

ARC Resources Ltd. (TSE:ARX - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$24.66 and traded as high as C$25.51. ARC Resources shares last traded at C$25.36, with a volume of 1,181,635 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. CIBC increased their price objective on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. TD Securities boosted their price target on ARC Resources from C$30.00 to C$31.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on ARC Resources from C$29.00 to C$31.00 in a research report on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. Finally, National Bankshares raised their price target on shares of ARC Resources from C$31.00 to C$32.00 in a report on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, ARC Resources presently has a consensus rating of "Buy" and an average price target of C$31.88.

ARC Resources Stock Up 0.5 %

The firm has a market capitalization of C$15.20 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. The company's 50 day moving average price is C$25.90 and its 200 day moving average price is C$24.66.

ARC Resources (TSE:ARX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas exploration company reported C$0.55 EPS for the quarter, topping analysts' consensus estimates of C$0.34 by C$0.21. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. During the same quarter in the previous year, the company posted $0.39 earnings per share. As a group, research analysts forecast that ARC Resources Ltd. will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.98%. This is an increase from ARC Resources's previous quarterly dividend of $0.17. ARC Resources's dividend payout ratio is 35.23%.

Insiders Place Their Bets

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of ARC Resources stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total transaction of C$828,360.57. 0.40% of the stock is currently owned by insiders.

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.