Arc Resources Ltd. (OTCMKTS:AETUF) Sees Large Decrease in Short Interest
by Amy Steele · The Cerbat GemArc Resources Ltd. (OTCMKTS:AETUF – Get Free Report) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,560,578 shares, a drop of 69.1% from the July 15th total of 5,050,673 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 120,948 shares, the short-interest ratio is currently 12.9 days.
Arc Resources Stock Performance
Shares of 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 firm has a market cap of $13.60 billion, a PE ratio of 13.41 and a beta of 0.26. Arc Resources has a 12 month low of $15.50 and a 12 month high of $24.00. The stock has a fifty day moving average price of $22.42 and a 200-day moving average price of $20.98.
Arc Resources (OTCMKTS:AETUF – Get Free Report) last announced its earnings results on Thursday, July 30th. The energy company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). Arc Resources had a net margin of 19.75% and a return on equity of 16.91%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts predict that Arc Resources will post 1.68 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Canaccord Genuity Group cut shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Zacks Research downgraded shares of Arc Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Capital One Financial downgraded shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada restated an “outperform” rating on shares of Arc Resources in a report on Wednesday, July 15th. Finally, BMO Capital Markets downgraded Arc Resources from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold”.
Read Our Latest Research Report on AETUF
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.