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

Arc Resources Ltd. (OTCMKTS:AETUF)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $22.75, but opened at $21.13. Arc Resources shares last traded at $21.13, with a volume of 899 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AETUF shares. Scotiabank reaffirmed a “sector perform” rating on shares of Arc Resources in a research report on Wednesday, April 29th. Jefferies Financial Group downgraded Arc Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Zacks Research cut Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Capital One Financial lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, BMO Capital Markets lowered shares of Arc Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arc Resources presently has a consensus rating of “Hold”.

Arc Resources Stock Down 0.6%

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.69 and a current ratio of 0.70. The firm’s 50 day moving average price is $21.61 and its two-hundred day moving average price is $19.74. The company has a market cap of $12.50 billion, a P/E ratio of 12.06 and a beta of 0.25.

Arc Resources (OTCMKTS:AETUF) last issued its earnings results on Tuesday, April 28th. The energy company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.25. Arc Resources had a net margin of 22.77% and a return on equity of 17.70%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.14 billion. Equities research analysts anticipate that Arc Resources Ltd. will post 2.04 EPS 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.