Arc Resources (OTCMKTS:AETUF) Reaches New 12-Month High – Time to Buy?

Shares of Arc Resources Ltd. (OTCMKTS:AETUF) reached a new 52-week high on Friday . The company traded as high as $23.8275 and last traded at $23.6735, with a volume of 5194 shares traded. The stock had previously closed at $23.60.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AETUF. BMO Capital Markets downgraded Arc Resources from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 28th. Royal Bank Of Canada restated an “outperform” rating on shares of Arc Resources in a report on Wednesday, July 15th. TD Securities downgraded shares of Arc Resources from a “buy” rating to a “sell” rating in a research report on Monday, April 27th. Capital One Financial lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Scotiabank reissued a “sector perform” rating on shares of Arc Resources in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Arc Resources Stock Performance

The stock has a market capitalization of $13.46 billion, a PE ratio of 12.98 and a beta of 0.26. The business has a 50 day moving average price of $22.24 and a 200 day moving average price of $20.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.87 and a quick ratio of 0.85.

Arc Resources (OTCMKTS:AETUF) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.18 billion. Arc Resources had a net margin of 22.77% and a return on equity of 17.47%. As a group, equities research analysts expect that Arc Resources Ltd. will post 1.67 earnings per share 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.