ARC Resources Ltd. (OTCMKTS:AETUF) Sees Significant Drop in Short Interest

ARC Resources Ltd. (OTCMKTS:AETUF) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 6,246,300 shares, a drop of 10.8% from the November 15th total of 7,003,600 shares. Based on an average trading volume of 57,000 shares, the days-to-cover ratio is presently 109.6 days.

ARC Resources Price Performance

Shares of AETUF opened at $17.61 on Tuesday. The company has a 50 day moving average of $17.66 and a two-hundred day moving average of $17.63. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. ARC Resources has a twelve month low of $14.32 and a twelve month high of $19.64. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 11.44 and a beta of 1.12.

ARC Resources (OTCMKTS:AETUF) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.13. ARC Resources had a return on equity of 16.60% and a net margin of 26.33%. The firm had revenue of $682.78 million during the quarter, compared to analysts’ expectations of $622.55 million. As a group, analysts predict that ARC Resources will post 1.26 earnings per share for the current fiscal year.

ARC Resources Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.1251 per share. This is a positive change from ARC Resources’s previous dividend of $0.12. The ex-dividend date was Friday, September 27th. This represents a dividend yield of 2.96%. ARC Resources’s payout ratio is presently 32.47%.

Wall Street Analyst Weigh In

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

ARC Resources Company Profile

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.