It is very cheap, but many in the sector has seen valuation adjustments. With no dividend, and with its small size ($561M) some investors no doubt prefer larger energy companies with a dividend. Shares are also very tightly held, with ARC owning 62% and Luminus Energy owning 12%. Thus, trading can be thin, and also investors always worry about these share blocks potentially coming up for sale. It has six analysts--all buys--with an average target of $20.67; Recent wildfires may have also hurt investor sentiment as it does have operations in affected areas.
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