ARC Resources (TSE:ARX) Shares Pass Above 200 Day Moving Average – Should You Sell?

ARC Resources Ltd. (TSE:ARX)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$24.49 and traded as high as C$27.71. ARC Resources shares last traded at C$27.10, with a volume of 2,709,043 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARX shares. UBS Group raised their target price on shares of ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. Canaccord Genuity Group boosted their price objective on shares of ARC Resources from C$29.00 to C$31.00 in a research note on Thursday, November 7th. Scotiabank raised their target price on shares of ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price target on ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Finally, Jefferies Financial Group raised their price objective on ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ARC Resources currently has an average rating of “Buy” and an average target price of C$31.35.

ARC Resources Price Performance

The firm has a 50-day moving average of C$25.59 and a 200 day moving average of C$24.51. The company has a market capitalization of C$16.15 billion, a PE ratio of 14.04, a PEG ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42.

ARC Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This is a positive change from ARC Resources’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.81%. ARC Resources’s payout ratio is currently 35.23%.

Insider Activity

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s 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 owned by corporate 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.