Arc Resources (OTCMKTS:AETUF) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Arc Resources Ltd. (OTCMKTS:AETUF) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $18.17 and traded as high as $20.80. Arc Resources shares last traded at $20.07, with a volume of 56,391 shares traded.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AETUF shares. Raymond James Financial downgraded shares of Arc Resources from a “moderate buy” rating to a “hold” rating in a research note on Friday, February 6th. Zacks Research upgraded shares of Arc Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. UBS Group cut shares of Arc Resources from a “buy” rating to a “hold” rating in a research report on Friday, December 12th. National Bank Financial downgraded Arc Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 6th. Finally, Roth Mkm assumed coverage on Arc Resources in a research report on Friday, December 19th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arc Resources has an average rating of “Moderate Buy”.

Arc Resources Price Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.70 and a quick ratio of 0.69. The business’s 50-day moving average price is $18.17 and its two-hundred day moving average price is $18.29. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.52 and a beta of 0.26.

Arc Resources (OTCMKTS:AETUF) last posted its quarterly earnings results on Thursday, February 5th. The energy company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Arc Resources had a net margin of 22.03% and a return on equity of 15.49%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.07 billion. On average, research analysts forecast that Arc Resources Ltd. will post 2.23 EPS for the current fiscal year.

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.