ARC Resources (TSE:ARX) Shares Pass Above 200 Day Moving Average of $8.03

ARC Resources Ltd (TSE:ARX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.03 and traded as high as $6.17. ARC Resources shares last traded at $6.04, with a volume of 294,828 shares.

A number of equities analysts recently commented on ARX shares. National Bank Financial raised their target price on ARC Resources from C$10.00 to C$10.50 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada decreased their price target on ARC Resources from C$12.00 to C$10.00 in a report on Thursday, July 18th. TD Securities decreased their price target on ARC Resources from C$13.50 to C$12.50 and set a “buy” rating on the stock in a report on Friday, June 21st. GMP Securities decreased their price target on ARC Resources from C$14.25 to C$10.50 in a report on Friday, June 28th. Finally, BMO Capital Markets decreased their price target on ARC Resources from C$12.00 to C$10.00 in a report on Friday, June 14th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of C$10.91.

The company has a quick ratio of 0.57, a current ratio of 1.06 and a debt-to-equity ratio of 23.88. The stock has a fifty day simple moving average of C$6.31 and a 200 day simple moving average of C$8.03. The firm has a market capitalization of $2.16 billion and a P/E ratio of 8.76.

The firm also recently declared a aug 19 dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 29th. ARC Resources’s dividend payout ratio is presently 88.24%.

ARC Resources Company Profile (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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