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

Arc Resources Ltd. (OTCMKTS:AETUF) gapped down prior to trading on Tuesday . The stock had previously closed at $23.43, but opened at $22.31. Arc Resources shares last traded at $23.4535, with a volume of 485 shares traded.

Analysts Set New Price Targets

Several research firms have commented on AETUF. BMO Capital Markets cut shares of Arc Resources from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 28th. Zacks Research upgraded shares of Arc Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Capital One Financial cut shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Canaccord Genuity Group cut shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Arc Resources in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Arc Resources Stock Down 2.4%

The stock has a market capitalization of $12.67 billion, a P/E ratio of 12.23, a PEG ratio of 0.62 and a beta of 0.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.70 and a quick ratio of 0.69. The stock’s fifty day moving average is $20.07 and its two-hundred day moving average is $18.79.

Arc Resources (OTCMKTS:AETUF) last issued its earnings results on Tuesday, April 28th. The energy company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.25. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Arc Resources had a net margin of 22.77% and a return on equity of 17.70%. As a group, research analysts predict that Arc Resources Ltd. will post 2.18 earnings per share for the current fiscal 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.