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

Arc Resources Ltd. (OTCMKTS:AETUF)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $23.93, but opened at $22.64. Arc Resources shares last traded at $22.7891, with a volume of 2,789 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group lowered Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. TD Securities downgraded Arc Resources from a “buy” rating to a “sell” rating in a research note on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Arc Resources in a report on Wednesday, July 15th. Canaccord Genuity Group downgraded shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Capital One Financial cut shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Arc Resources Stock Up 0.4%

The stock’s fifty day moving average price is $22.29 and its 200 day moving average price is $20.68. The stock has a market cap of $13.30 billion, a P/E ratio of 13.11 and a beta of 0.26. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32.

Arc Resources (OTCMKTS:AETUF) last released its quarterly earnings results on Thursday, July 30th. The energy company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Arc Resources had a net margin of 19.75% and a return on equity of 16.91%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.18 billion. As a group, research analysts forecast that Arc Resources Ltd. will post 1.68 earnings per share for the current fiscal year.

Arc Resources Company Profile

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.