Balboa Wealth Partners Purchases 598 Shares of Arch Resources, Inc. (NYSE:ARCH)

Balboa Wealth Partners boosted its position in shares of Arch Resources, Inc. (NYSE:ARCH) by 30.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,578 shares of the energy company’s stock after buying an additional 598 shares during the quarter. Balboa Wealth Partners’ holdings in Arch Resources were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank purchased a new stake in Arch Resources in the fourth quarter valued at approximately $5,642,000. Advisors Asset Management Inc. raised its position in shares of Arch Resources by 35.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 62,030 shares of the energy company’s stock worth $10,586,000 after acquiring an additional 16,185 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new position in shares of Arch Resources in the 4th quarter valued at approximately $1,493,000. Teacher Retirement System of Texas boosted its stake in shares of Arch Resources by 14.4% in the fourth quarter. Teacher Retirement System of Texas now owns 13,925 shares of the energy company’s stock valued at $2,311,000 after buying an additional 1,754 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Arch Resources during the third quarter worth $2,560,000. 88.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ARCH. Citigroup restated a “neutral” rating and set a $170.00 price objective (down previously from $185.00) on shares of Arch Resources in a research note on Thursday, April 18th. Benchmark restated a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a report on Monday, April 22nd. BMO Capital Markets reissued a “market perform” rating and set a $165.00 price objective (down previously from $180.00) on shares of Arch Resources in a research report on Wednesday, April 10th. B. Riley reduced their price target on Arch Resources from $198.00 to $193.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Finally, StockNews.com lowered Arch Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $177.00.

Arch Resources Stock Performance

ARCH traded up $0.02 during midday trading on Thursday, reaching $173.33. The company had a trading volume of 179,496 shares, compared to its average volume of 431,078. The stock has a market cap of $3.14 billion, a PE ratio of 10.19 and a beta of 0.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.89 and a current ratio of 2.64. The business has a 50-day moving average price of $160.71 and a two-hundred day moving average price of $164.80. Arch Resources, Inc. has a 12-month low of $102.42 and a 12-month high of $187.60.

Arch Resources (NYSE:ARCH) last announced its quarterly earnings data on Monday, April 29th. The energy company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.19. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. The business had revenue of $680.19 million for the quarter, compared to analysts’ expectations of $596.52 million. During the same quarter in the prior year, the company earned $10.02 earnings per share. The business’s revenue was down 21.8% compared to the same quarter last year. On average, sell-side analysts expect that Arch Resources, Inc. will post 12.82 earnings per share for the current fiscal year.

Arch Resources Cuts Dividend

The firm also recently declared a None dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $1.11 dividend. The ex-dividend date is Friday, May 31st. This represents a dividend yield of 0.6%. Arch Resources’s dividend payout ratio is currently 5.88%.

Insiders Place Their Bets

In other news, Director Pamela R. Butcher acquired 200 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of $165.00 per share, for a total transaction of $33,000.00. Following the transaction, the director now directly owns 200 shares in the company, valued at approximately $33,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Pamela R. Butcher purchased 200 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $165.00 per share, for a total transaction of $33,000.00. Following the acquisition, the director now directly owns 200 shares in the company, valued at $33,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew C. Giljum sold 2,380 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $169.48, for a total value of $403,362.40. Following the transaction, the chief financial officer now owns 39,235 shares of the company’s stock, valued at $6,649,547.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,152 shares of company stock valued at $18,207,158. Insiders own 5.40% of the company’s stock.

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.