Arc Resources (OTCMKTS:AETUF) Reaches New 1-Year High – Here’s Why

Arc Resources Ltd. (OTCMKTS:AETUF)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $23.96 and last traded at $23.96, with a volume of 5223 shares changing hands. The stock had previously closed at $23.6180.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AETUF shares. Capital One Financial downgraded Arc Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Arc Resources in a research report on Wednesday, July 15th. Canaccord Genuity Group downgraded Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. TD Securities lowered Arc Resources from a “buy” rating to a “sell” rating in a report on Monday, April 27th. Finally, Scotiabank restated a “sector perform” rating on shares of Arc Resources in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

Arc Resources Price Performance

The firm has a market capitalization of $13.60 billion, a PE ratio of 13.41 and a beta of 0.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.87. The business’s 50 day moving average is $22.42 and its two-hundred day moving average is $20.98.

Arc Resources (OTCMKTS:AETUF) last issued its earnings results on Thursday, July 30th. The energy company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.18 billion. Arc Resources had a net margin of 19.75% and a return on equity of 16.91%. Equities research analysts anticipate that Arc Resources Ltd. will post 1.68 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.