Arc Resources (OTCMKTS:AETUF) Hits New 12-Month High – Still a Buy?

Arc Resources Ltd. (OTCMKTS:AETUF) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $23.96 and last traded at $23.96, with a volume of 5223 shares. The stock had previously closed at $23.6180.

Analysts Set New Price Targets

A number of research firms have weighed in on AETUF. Scotiabank reaffirmed a “sector perform” rating on shares of Arc Resources in a report on Wednesday, April 29th. Canaccord Genuity Group lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Jefferies Financial Group cut Arc Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Zacks Research lowered Arc Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, BMO Capital Markets cut 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 issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Arc Resources currently has a consensus rating of “Hold”.

Arc Resources Trading Up 1.4%

The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 13.38 and a beta of 0.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.87. The company has a 50 day moving average price of $22.40 and a two-hundred day moving average price of $20.96.

Arc Resources (OTCMKTS:AETUF) last released its quarterly earnings results on Thursday, July 30th. The energy company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.18 billion. Arc Resources had a net margin of 19.75% and a return on equity of 16.91%. On average, research analysts forecast that Arc Resources Ltd. will post 1.68 EPS for the current 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.