ARC Resources (TSE:ARX) Share Price Crosses 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$24.49 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 trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on ARX. Canaccord Genuity Group increased their target price on shares of ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. National Bankshares lifted their target price on shares of ARC Resources from C$31.00 to C$32.00 in a research note on Thursday, November 7th. Scotiabank increased their price target on 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 upped their price objective on ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. Finally, Jefferies Financial Group lifted their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$31.35.

ARC Resources Price Performance

The company has a market cap of C$16.15 billion, a P/E ratio of 14.04, a PEG ratio of 0.29 and a beta of 1.26. The firm’s 50-day moving average is C$25.59 and its two-hundred day moving average is C$24.51. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This is an increase 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 35.23%.

Insider Buying and Selling

In other ARC Resources news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 company insiders.

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.