ARC Resources Ltd. (OTCMKTS:AETUF – Get Free Report) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,315,300 shares, a growth of 17.1% from the February 29th total of 4,538,000 shares. Based on an average trading volume of 63,800 shares, the days-to-cover ratio is presently 83.3 days.
Wall Street Analyst Weigh In
Separately, BMO Capital Markets upgraded ARC Resources from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Monday, February 12th.
Get Our Latest Report on ARC Resources
ARC Resources Stock Up 1.1 %
ARC Resources (OTCMKTS:AETUF – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The energy company reported $0.62 earnings per share for the quarter. ARC Resources had a return on equity of 22.43% and a net margin of 28.19%. The firm had revenue of $1.02 billion during the quarter. On average, research analysts forecast that ARC Resources will post 1.52 EPS for the current fiscal year.
ARC Resources Cuts Dividend
The business also recently declared a dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.1256 per share. This represents a yield of 2.86%. The ex-dividend date is Wednesday, March 27th. ARC Resources’s dividend payout ratio is presently 18.56%.
About ARC Resources
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.
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