CONSOL Coal Resources (NYSE:CCR) Cut to Sell at Zacks Investment Research

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CONSOL Coal Resources (NYSE:CCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “CONSOL Coal Resources LP manages and develops active thermal coal operations. The company engages in underground mines and related infrastructure that produce high- BTU bituminuous thermal coal. It primarily sells its coal to electric utilities in the United States. CONSOL Coal Resources LP, formerly known as CNX Coal Resrcs, is based in Canonsburg, Pennsylvania. “

NYSE CCR traded down $0.17 during trading on Tuesday, reaching $16.48. 8,904 shares of the company traded hands, compared to its average volume of 26,321. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.46 and a current ratio of 0.63. The stock has a 50 day moving average price of $16.03. The firm has a market capitalization of $458.69 million, a P/E ratio of 6.95 and a beta of 0.97. CONSOL Coal Resources has a 1-year low of $14.58 and a 1-year high of $21.13.

CONSOL Coal Resources (NYSE:CCR) last released its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $86.11 million for the quarter, compared to the consensus estimate of $87.25 million. CONSOL Coal Resources had a return on equity of 26.44% and a net margin of 16.99%. Equities research analysts forecast that CONSOL Coal Resources will post 2.01 earnings per share for the current fiscal year.

In related news, Director Consol Energy Inc. acquired 6,884 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $17.32 per share, with a total value of $119,230.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG raised its position in CONSOL Coal Resources by 10.7% in the 4th quarter. Deutsche Bank AG now owns 55,907 shares of the energy company’s stock worth $917,000 after purchasing an additional 5,407 shares during the last quarter. Edge Capital Group LLC bought a new position in CONSOL Coal Resources in the 4th quarter worth approximately $738,000. Geode Capital Management LLC bought a new position in CONSOL Coal Resources in the 4th quarter worth approximately $611,000. Acadian Asset Management LLC bought a new position in CONSOL Coal Resources in the 4th quarter worth approximately $176,000. Finally, Macquarie Group Ltd. bought a new position in CONSOL Coal Resources in the 4th quarter worth approximately $116,000. 22.18% of the stock is currently owned by institutional investors.

About CONSOL Coal Resources

CONSOL Coal Resources LP produces and sells high-Btu thermal coal in the Northern Appalachian Basin and the eastern United States. It owns a 25% undivided interest in the Pennsylvania mining complex, which consists of three underground mines and related infrastructure that produce high-Btu bituminous thermal coal located primarily in southwestern Pennsylvania.

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