Arc Resources Ltd. (OTCMKTS:AETUF) Short Interest Down 69.1% in July

Arc Resources Ltd. (OTCMKTS:AETUF) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 1,560,578 shares, a decrease of 69.1% from the July 15th total of 5,050,673 shares. Based on an average daily trading volume, of 120,948 shares, the days-to-cover ratio is presently 12.9 days. Currently, 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research firms have recently commented on AETUF. Jefferies Financial Group cut shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. BMO Capital Markets cut shares of Arc Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 28th. Capital One Financial cut Arc Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Scotiabank reiterated a “sector perform” rating on shares of Arc Resources in a research note on Wednesday, April 29th. Finally, Zacks Research lowered Arc Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Arc Resources currently has an average rating of “Hold”.

Arc Resources Price Performance

OTCMKTS AETUF opened at $24.00 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $22.42 and a 200 day simple moving average of $20.98. The company has a market cap of $13.60 billion, a P/E ratio of 13.41 and a beta of 0.26. Arc Resources has a 1 year low of $15.50 and a 1 year high of $24.00.

Arc Resources (OTCMKTS:AETUF) last announced its earnings results on Thursday, July 30th. The energy company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.18 billion. Arc Resources had a return on equity of 16.91% and a net margin of 19.75%. On average, sell-side analysts predict that Arc Resources will post 1.68 EPS 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.