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 $23.05, but opened at $21.92. Arc Resources shares last traded at $23.00, with a volume of 15,855 shares trading hands.

Analyst Ratings Changes

AETUF has been the topic of several analyst reports. Canaccord Genuity Group downgraded Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Jefferies Financial Group cut Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Scotiabank restated a “sector perform” rating on shares of Arc Resources in a research report on Wednesday, April 29th. Zacks Research downgraded Arc Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, TD Securities lowered Arc Resources from a “buy” rating to a “sell” rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, nine have assigned 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 Stock Performance

The business has a fifty day moving average of $22.24 and a 200 day moving average of $20.37. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.32. The company has a market cap of $13.01 billion, a P/E ratio of 12.55 and a beta of 0.26.

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