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

Shares of ARC Resources Ltd. (TSE:ARX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$24.38 and traded as high as C$25.22. ARC Resources shares last traded at C$25.16, with a volume of 1,917,546 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cormark raised ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. Jefferies Financial Group lifted their price objective on ARC Resources from C$27.00 to C$29.00 in a research report on Monday, December 16th. Scotiabank boosted their price objective on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their target price on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Finally, National Bankshares lifted their price target on ARC Resources from C$31.00 to C$32.00 in a research report on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ARC Resources currently has a consensus rating of “Buy” and a consensus price target of C$31.35.

ARC Resources Stock Up 0.5 %

The company’s 50-day simple moving average is C$24.68 and its two-hundred day simple moving average is C$24.37. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The firm has a market capitalization of C$15.08 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.01%. This is an increase from ARC Resources’s previous quarterly dividend of $0.17. ARC Resources’s dividend payout ratio is presently 35.23%.

Insider Transactions at ARC Resources

In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$27.10, for a total value of C$828,360.57. Insiders own 0.40% of the company’s stock.

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.