Arc Resources (OTCMKTS:AETUF) Shares Gap Down – Here’s What Happened

Arc Resources Ltd. (OTCMKTS:AETUF) shares gapped down prior to trading on Friday . The stock had previously closed at $18.56, but opened at $17.60. Arc Resources shares last traded at $16.10, with a volume of 59,590 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AETUF shares. CIBC downgraded Arc Resources from an “outperform” rating to a “neutral” rating in a report on Friday. UBS Group cut shares of Arc Resources from a “buy” rating to a “hold” rating in a report on Friday, December 12th. Scotiabank lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Cantor Fitzgerald started coverage on shares of Arc Resources in a research note on Monday, October 27th. They set an “overweight” rating for the company. Finally, Raymond James Financial lowered Arc Resources from an “outperform” rating to a “market perform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Arc Resources Stock Down 11.4%

The stock has a market cap of $9.39 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.81 and a beta of 0.29. The company has a current ratio of 0.54, a quick ratio of 0.53 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average is $18.30 and its 200 day moving average is $18.51.

Arc Resources (OTCMKTS:AETUF) last posted its quarterly earnings data on Thursday, February 5th. The energy company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Arc Resources had a return on equity of 16.90% and a net margin of 25.94%. As a group, equities research analysts forecast that Arc Resources Ltd. will post 2.23 EPS for the current year.

About Arc Resources

Arc Resources Ltd., trading on the OTC Markets under the ticker AETUF, is a Canadian energy company primarily engaged in the exploration, development and production of natural gas, condensate and natural gas liquids. Headquartered in Calgary, Alberta, the company’s core operations are concentrated in the Montney formation, a premier resource play extending across northeastern British Columbia and northwestern Alberta. Arc’s portfolio emphasizes liquids-rich gas production supported by proprietary midstream infrastructure, including gas processing facilities, pipelines and water management systems.

Since its formation in the mid-1990s as Arc Energy Trust and its conversion to a corporation in 2015, Arc Resources has pursued a disciplined growth strategy focused on operational efficiency, cost control and sustainable development.