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

Arc Resources Ltd. (OTCMKTS:AETUF) shares gapped up before the market opened on Wednesday . The stock had previously closed at $17.39, but opened at $18.42. Arc Resources shares last traded at $17.27, with a volume of 10,955 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on AETUF. National Bank Financial downgraded Arc Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 6th. Cantor Fitzgerald assumed coverage on Arc Resources in a research report on Monday, October 27th. They issued an “overweight” rating for the company. Zacks Research lowered Arc Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, December 19th. Roth Mkm assumed coverage on Arc Resources in a report on Friday, December 19th. They set a “buy” rating on the stock. Finally, Scotiabank lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Arc Resources Stock Performance

The company has a quick ratio of 0.53, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $10.26 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.30 and a beta of 0.29. The firm has a 50-day moving average price of $18.17 and a 200 day moving average price of $18.41.

Arc Resources (OTCMKTS:AETUF) last issued its quarterly earnings results on Thursday, February 5th. The energy company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.07 billion. Arc Resources had a net margin of 22.03% and a return on equity of 15.52%. Research analysts expect that Arc Resources Ltd. will post 2.23 earnings per share 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.