JPMorgan Chase & Co. Buys 8,976 Shares of Arch Resources, Inc. (NYSE:ARCH)

JPMorgan Chase & Co. lifted its position in Arch Resources, Inc. (NYSE:ARCH) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,733 shares of the energy company’s stock after purchasing an additional 8,976 shares during the period. JPMorgan Chase & Co.’s holdings in Arch Resources were worth $17,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in Arch Resources by 13.6% during the second quarter. Pacer Advisors Inc. now owns 1,001,093 shares of the energy company’s stock valued at $152,396,000 after buying an additional 119,505 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Arch Resources by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 973,208 shares of the energy company’s stock valued at $148,146,000 after acquiring an additional 58,821 shares during the period. FMR LLC raised its position in shares of Arch Resources by 159.5% in the 3rd quarter. FMR LLC now owns 657,654 shares of the energy company’s stock worth $90,862,000 after acquiring an additional 404,249 shares in the last quarter. American Century Companies Inc. raised its position in shares of Arch Resources by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 478,990 shares of the energy company’s stock worth $72,917,000 after acquiring an additional 59,072 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Arch Resources by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 413,811 shares of the energy company’s stock worth $57,183,000 after purchasing an additional 3,073 shares during the last quarter. Institutional investors own 88.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ARCH shares. Jefferies Financial Group upgraded shares of Arch Resources from a “hold” rating to a “buy” rating and reduced their target price for the stock from $165.00 to $150.00 in a report on Monday. Benchmark reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a research report on Monday, November 18th. StockNews.com assumed coverage on shares of Arch Resources in a research report on Monday. They set a “hold” rating for the company. Finally, Piper Sandler raised shares of Arch Resources from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $165.00 to $150.00 in a report on Monday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $167.17.

Arch Resources Trading Down 0.8 %

NYSE:ARCH opened at $140.47 on Friday. Arch Resources, Inc. has a twelve month low of $116.44 and a twelve month high of $187.60. The company has a market cap of $2.54 billion, a PE ratio of 14.76 and a beta of 0.69. The company’s 50 day moving average is $155.35 and its two-hundred day moving average is $145.18.

Arch Resources (NYSE:ARCH) last announced its quarterly earnings data 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 company had revenue of $617.90 million for the quarter, compared to analysts’ expectations of $587.71 million. Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. Arch Resources’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the firm earned $3.91 earnings per share. As a group, analysts expect that Arch Resources, Inc. will post 5.86 EPS for the current fiscal year.

Arch Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, November 15th. Arch Resources’s payout ratio is 10.50%.

Insider Transactions at Arch Resources

In other Arch Resources news, VP Deck Slone sold 253 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $144.75, for a total value of $36,621.75. Following the sale, the vice president now directly owns 29,120 shares of the company’s stock, valued at approximately $4,215,120. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.90% of the company’s stock.

Arch Resources Profile

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.