ARC Resources (TSE:ARX) Stock Price Down 6.8% – Time to Sell?

Shares of ARC Resources Ltd. (TSE:ARX) fell 6.8% during mid-day trading on Friday . The stock traded as low as C$23.92 and last traded at C$24.38. 1,906,435 shares traded hands during trading, a decline of 13% from the average session volume of 2,184,991 shares. The stock had previously closed at C$26.17.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARX. National Bankshares lowered their target price on ARC Resources from C$38.00 to C$33.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Raymond James Financial reduced their price target on ARC Resources from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Scotiabank dropped their price objective on ARC Resources from C$38.00 to C$36.00 in a research report on Thursday, October 9th. CIBC cut their target price on ARC Resources from C$34.00 to C$31.50 in a research note on Wednesday, October 15th. Finally, Capital One Financial raised shares of ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$33.32.

ARC Resources Price Performance

The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The firm has a market cap of C$13.91 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 0.29 and a beta of -0.01. The stock has a 50 day moving average price of C$25.58 and a two-hundred day moving average price of C$27.11.

ARC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.2%. ARC Resources’s dividend payout ratio (DPR) is currently 29.25%.

ARC Resources Company Profile

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.