Arch Resources (NYSE:ARCH) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Arch Resources (NYSE:ARCH) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Piper Sandler currently has $150.00 target price on the energy company’s stock, down from their prior target price of $165.00.

Several other equities analysts have also weighed in on ARCH. StockNews.com assumed coverage on Arch Resources in a report on Monday. They set a “hold” rating for the company. Jefferies Financial Group downgraded Arch Resources from a “buy” rating to a “hold” rating and increased their price target for the stock from $155.00 to $165.00 in a research note on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Arch Resources presently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

Arch Resources Stock Performance

Shares of NYSE:ARCH opened at $140.47 on Monday. The company has a market capitalization of $2.54 billion, a P/E ratio of 14.76 and a beta of 0.69. The company’s 50-day moving average is $155.47 and its 200 day moving average is $145.21. Arch Resources has a fifty-two week low of $116.44 and a fifty-two week high of $187.60.

Arch Resources (NYSE:ARCH) last released its 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). Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The company had revenue of $617.90 million during the quarter, compared to analysts’ expectations of $587.71 million. During the same quarter in the previous year, the firm earned $3.91 earnings per share. The firm’s revenue was down 17.0% compared to the same quarter last year. As a group, research analysts predict that Arch Resources will post 5.86 earnings per share for the current year.

Arch Resources Dividend Announcement

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

Insider Buying and Selling

In related news, VP Deck Slone sold 253 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $144.75, for a total value of $36,621.75. Following the sale, the vice president now owns 29,120 shares in the company, valued at approximately $4,215,120. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arch Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCH. GAMMA Investing LLC boosted its position in shares of Arch Resources by 340.5% during the 4th quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Arch Resources by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 129,733 shares of the energy company’s stock valued at $17,924,000 after purchasing an additional 8,976 shares in the last quarter. Franklin Resources Inc. lifted its position in Arch Resources by 7.4% during the third quarter. Franklin Resources Inc. now owns 12,240 shares of the energy company’s stock valued at $1,785,000 after purchasing an additional 843 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Arch Resources by 10.3% during the third quarter. Sanctuary Advisors LLC now owns 2,554 shares of the energy company’s stock valued at $353,000 after purchasing an additional 238 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Arch Resources by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 413,811 shares of the energy company’s stock worth $57,183,000 after buying an additional 3,073 shares in the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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.