Arc Resources (OTCMKTS:AETUF) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Arc Resources Ltd. (OTCMKTS:AETUF) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $22.12 and traded as low as $20.13. Arc Resources shares last traded at $20.75, with a volume of 5,219 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AETUF. Zacks Research lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. BMO Capital Markets downgraded shares of Arc Resources from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 28th. Canaccord Genuity Group downgraded shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. TD Securities downgraded shares of Arc Resources from a “buy” rating to a “sell” rating in a research note on Monday, April 27th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Arc Resources in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Arc Resources Price Performance

The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 11.34 and a beta of 0.26. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $22.12 and a 200 day simple moving average of $19.93.

Arc Resources (OTCMKTS:AETUF) last issued its earnings results on Tuesday, April 28th. The energy company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.25. Arc Resources had a return on equity of 17.70% and a net margin of 22.77%.The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.14 billion. As a group, research analysts predict that Arc Resources Ltd. will post 2.04 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.