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

Shares of Arc Resources Ltd. (OTCMKTS:AETUF) gapped down before the market opened on Monday . The stock had previously closed at $23.05, but opened at $21.92. Arc Resources shares last traded at $23.00, with a volume of 15,855 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AETUF shares. Capital One Financial downgraded Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Jefferies Financial Group downgraded shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Scotiabank reissued a “sector perform” rating on shares of Arc Resources in a report on Wednesday, April 29th. Canaccord Genuity Group cut shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, TD Securities downgraded shares of Arc Resources from a “buy” rating to a “sell” rating in a research note on Monday, April 27th. Three 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. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Arc Resources Price Performance

The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 12.38 and a beta of 0.26. The company has a fifty day simple moving average of $22.23 and a 200 day simple moving average of $20.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.87.

Arc Resources (OTCMKTS:AETUF) last released its quarterly earnings results on Tuesday, April 28th. The energy company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.25. Arc Resources had a return on equity of 17.47% and a net margin of 22.77%.The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.14 billion. Equities research analysts forecast that Arc Resources Ltd. will post 1.67 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.