ARC Resources (OTCMKTS:AETUF) Sets New 1-Year High – Time to Buy?

Posted by Latisha Jones on Nov 21st, 2024

ARC Resources Ltd. (OTCMKTS:AETUF – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $19.46 and last traded at $18.23, with a volume of 8988 shares trading hands. The stock had previously closed at $18.46.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upgraded ARC Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th.

Read Our Latest Report on ARC Resources

ARC Resources Stock Performance

The company’s fifty day simple moving average is $17.33 and its 200 day simple moving average is $17.70. The stock has a market capitalization of $11.43 billion, a P/E ratio of 12.14 and a beta of 1.14. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19.

ARC Resources (OTCMKTS:AETUF – Get Free Report) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.13. ARC Resources had a net margin of 26.33% and a return on equity of 16.60%. The business had revenue of $682.78 million for the quarter, compared to the consensus estimate of $622.55 million. As a group, sell-side analysts forecast that ARC Resources Ltd. will post 1.26 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.1251 dividend. This represents a dividend yield of 2.96%. This is an increase from ARC Resources’s previous dividend of $0.12. The ex-dividend date of this dividend was Friday, September 27th. ARC Resources’s payout ratio is presently 32.47%.

ARC Resources Company Profile

(Get Free Report)

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.