Arc Resources Ltd. (OTCMKTS:AETUF) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 69.1% in July to 1.56 million shares from 5.05 million, representing approximately 0.3% of Arc Resources’ outstanding shares. The short-interest ratio remains elevated at 12.9 days based on average daily trading volume.
• Analyst sentiment is mixed, with three Buy ratings, nine Holds and two Sells; MarketBeat’s overall consensus rating is Hold.
• Arc Resources’ latest quarterly results fell short of expectations: EPS was $0.45 versus a $0.48 estimate, while revenue reached $1.09 billion compared with the $1.18 billion consensus forecast.

Arc Resources Ltd. (OTCMKTS:AETUF - Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 1,560,578 shares, a decline of 69.1% from the July 15th total of 5,050,673 shares. Approximately 0.3% of the company's shares are sold short. Based on an average daily trading volume, of 120,948 shares, the short-interest ratio is currently 12.9 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AETUF shares. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Arc Resources in a research note on Wednesday, July 15th. Canaccord Genuity Group downgraded shares of Arc Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. BMO Capital Markets lowered shares of Arc Resources from an "outperform" rating to a "market perform" rating in a report on Tuesday, April 28th. Zacks Research downgraded shares of Arc Resources from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Arc Resources in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold".

Arc Resources Price Performance

Shares of OTCMKTS:AETUF opened at $23.62 on Friday. Arc Resources has a twelve month low of $15.50 and a twelve month high of $23.93. The stock's 50 day moving average is $22.40 and its 200-day moving average is $20.96. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 13.19 and a beta of 0.26.

Arc Resources (OTCMKTS:AETUF - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The energy company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). The business 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%. Sell-side analysts forecast that Arc Resources will post 1.68 EPS for the current fiscal 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.

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