Arch Resources, Inc. (NYSE:ARCH) Shares Sold by Covestor Ltd

Covestor Ltd lessened its stake in shares of Arch Resources, Inc. (NYSE:ARCH) by 37.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 361 shares of the energy company’s stock after selling 215 shares during the quarter. Covestor Ltd’s holdings in Arch Resources were worth $50,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Arch Resources by 132.0% during the 2nd quarter. CWM LLC now owns 174 shares of the energy company’s stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Blue Trust Inc. grew its position in Arch Resources by 5,500.0% in the second quarter. Blue Trust Inc. now owns 336 shares of the energy company’s stock worth $54,000 after buying an additional 330 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Arch Resources in the second quarter valued at $55,000. Headlands Technologies LLC acquired a new stake in shares of Arch Resources during the 1st quarter valued at $69,000. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of Arch Resources during the 1st quarter worth $149,000. Institutional investors own 88.14% of the company’s stock.

Insider Transactions at Arch Resources

In other news, VP Deck Slone sold 253 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $144.75, for a total transaction of $36,621.75. Following the completion of the sale, the vice president now owns 29,120 shares in the company, valued at approximately $4,215,120. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ARCH shares. B. Riley reduced their target price on Arch Resources from $198.00 to $188.00 and set a “buy” rating for the company in a report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a report on Friday, July 26th. StockNews.com began coverage on shares of Arch Resources in a report on Monday. They set a “hold” rating on the stock. Finally, Jefferies Financial Group lowered shares of Arch Resources from a “buy” rating to a “hold” rating and raised their price objective for the stock from $155.00 to $165.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Arch Resources presently has an average rating of “Hold” and a consensus price target of $173.60.

Arch Resources Stock Performance

ARCH stock opened at $163.45 on Friday. Arch Resources, Inc. has a 52 week low of $116.44 and a 52 week high of $187.60. The stock has a market cap of $2.96 billion, a P/E ratio of 17.32 and a beta of 0.59. The firm has a 50 day simple moving average of $140.27 and a 200 day simple moving average of $147.51.

Arch Resources (NYSE:ARCH) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($2.17). The firm had revenue of $617.90 million for the quarter, compared to analysts’ expectations of $587.71 million. Arch Resources had a return on equity of 13.22% and a net margin of 6.69%. The firm’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same period last year, the business earned $3.91 earnings per share. Sell-side analysts predict that Arch Resources, Inc. will post 5.86 EPS for the current year.

Arch Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Friday, November 15th. Arch Resources’s dividend payout ratio is 10.50%.

About Arch Resources

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.