ARC Resources Ltd (TSE:ARX)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.21 and traded as high as $5.58. ARC Resources shares last traded at $5.50, with a volume of 666,372 shares trading hands.
A number of research firms recently weighed in on ARX. Raymond James reiterated a “strong-buy” rating and issued a C$12.00 price target on shares of ARC Resources in a research report on Friday, September 13th. BMO Capital Markets decreased their price target on ARC Resources from C$12.00 to C$10.00 in a research report on Friday, June 14th. GMP Securities decreased their price target on ARC Resources from C$14.25 to C$10.50 in a research report on Friday, June 28th. TD Securities decreased their price target on ARC Resources from C$13.50 to C$12.50 and set a “buy” rating for the company in a research report on Friday, June 21st. Finally, Royal Bank of Canada decreased their price target on ARC Resources from C$12.00 to C$10.00 in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of C$10.72.
The company has a current ratio of 1.06, a quick ratio of 0.57 and a debt-to-equity ratio of 23.88. The firm has a market cap of $1.94 billion and a price-to-earnings ratio of 8.03. The stock has a 50-day moving average of C$6.18 and a two-hundred day moving average of C$7.21.
ARC Resources (TSE:ARX) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas exploration company reported C$0.09 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.06 by C$0.03. The business had revenue of C$282.90 million for the quarter, compared to analyst estimates of C$309.10 million. Sell-side analysts expect that ARC Resources Ltd will post 0.24 EPS for the current fiscal year.
The firm also recently disclosed a sep 19 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, September 27th. ARC Resources’s payout ratio is presently 88.24%.
About ARC Resources (TSE:ARX)
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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