The Chairman of ARC Resources (Other OTC: AETUF) is Buying Shares

By Carrie Williams

Today, the Chairman of ARC Resources (AETUFResearch Report), Harold N Kvisle, bought shares of AETUF for $45.55K.

This is Kvisle’s first transaction since reporting a Buy transaction on CVE back in March 2020 This recent transaction increases Harold N Kvisle’s holding in the company by 3% to a total of $1.13 million.

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Based on ARC Resources’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.33 billion and GAAP net loss of -$123,000,000. In comparison, last year the company earned revenue of $221 million and had a GAAP net loss of $43.5 million. The company has a one-year high of $9.10 and a one-year low of $4.10. Currently, ARC Resources has an average volume of 163.65K.

Starting in January 2021, AETUF received 50 Buy ratings in a row. Based on 10 analyst ratings, the analyst consensus is Strong Buy with an average price target of $11.52, reflecting a -33.8% downside. 10 different firms, including BMO Capital and Canaccord Genuity, currently also have a Buy rating on the stock.

The insider sentiment on ARC Resources has been positive according to 50 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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ARC Resources Ltd. engages in the exploration, development and production of crude oil and natural gas. Its projects include Montney operations in northeast British Columbia, and the Pembina Cardium in Alberta. The company was founded by John P. Dielwart and Mac H. van Wielingen in 1996 and is headquartered in Calgary, Canada.