GeoSphere Capital Management Takes Position in Arch Coal Inc. (ARCH)

GeoSphere Capital Management purchased a new position in Arch Coal Inc. (NYSE:ARCH) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,000 shares of the energy company’s stock, valued at approximately $2,152,000. Arch Coal accounts for 5.7% of GeoSphere Capital Management’s holdings, making the stock its 8th biggest position. GeoSphere Capital Management owned approximately 0.14% of Arch Coal at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Arch Coal during the 2nd quarter worth $104,000. Royal Bank of Canada increased its holdings in Arch Coal by 140.6% during the 2nd quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock worth $113,000 after purchasing an additional 967 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Arch Coal during the 2nd quarter worth $131,000. New York State Teachers Retirement System purchased a new position in Arch Coal during the 3rd quarter worth $136,000. Finally, Meeder Asset Management Inc. purchased a new position in Arch Coal during the 3rd quarter worth $155,000.

Shares of Arch Coal Inc. (ARCH) opened at $85.94 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.79 and a debt-to-equity ratio of 0.46. Arch Coal Inc. has a 52-week low of $60.13 and a 52-week high of $88.00.

Arch Coal (NYSE:ARCH) last announced its earnings results on Tuesday, October 31st. The energy company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.96. The company had revenue of $613.53 million for the quarter, compared to the consensus estimate of $550.35 million. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted ($1.43) EPS. research analysts predict that Arch Coal Inc. will post 9.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.40 annualized dividend and a yield of 1.63%.

Several research analysts have commented on ARCH shares. J P Morgan Chase & Co upgraded Arch Coal from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $90.00 in a report on Thursday, August 31st. Zacks Investment Research downgraded Arch Coal from a “hold” rating to a “sell” rating in a report on Friday, September 29th. B. Riley set a $95.00 price objective on Arch Coal and gave the stock a “buy” rating in a report on Tuesday, November 14th. FBR & Co set a $96.00 price objective on Arch Coal and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, MKM Partners restated a “buy” rating and set a $98.00 price objective (up from $93.00) on shares of Arch Coal in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.00.

In other Arch Coal news, Director James N. Chapman sold 1,002 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $80.99, for a total transaction of $81,151.98. Following the sale, the director now owns 2,226 shares of the company’s stock, valued at approximately $180,283.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $85.26, for a total value of $42,630,000.00. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.

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Arch Coal Company Profile

Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.

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Institutional Ownership by Quarter for Arch Coal (NYSE:ARCH)

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