Arc Resources (OTCMKTS:AETUF) Shares Gap Down Following Analyst Downgrade

Arc Resources Ltd. (OTCMKTS:AETUF)’s share price gapped down before the market opened on Friday after Natl Bk Canada downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $18.56, but opened at $17.60. Arc Resources shares last traded at $16.10, with a volume of 59,590 shares traded.

Other analysts also recently issued reports about the company. Cibc Captl Mkts downgraded Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Friday. Scotiabank cut Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Raymond James Financial lowered shares of Arc Resources from an “outperform” rating to a “market perform” rating in a research note on Friday. Capital One Financial upgraded shares of Arc Resources to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Cantor Fitzgerald initiated coverage on shares of Arc Resources in a research report on Monday, October 27th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Arc Resources Stock Down 10.0%

The company has a current ratio of 0.54, a quick ratio of 0.53 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $18.28 and a 200-day moving average price of $18.48. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 1.23 and a beta of 0.29.

Arc Resources (OTCMKTS:AETUF) last issued its quarterly earnings data on Thursday, February 5th. The energy company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Arc Resources had a net margin of 22.03% and a return on equity of 15.52%. On average, equities analysts forecast that Arc Resources Ltd. will post 2.23 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.