CONSOL Coal Resources (NYSE:CCR) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of CONSOL Coal Resources (NYSE:CCR) from a hold rating to a sell rating in a research note released on Tuesday morning, 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. “

CONSOL Coal Resources stock opened at $16.25 on Tuesday. The company has a 50 day moving average price of $16.03. CONSOL Coal Resources has a 1-year low of $14.58 and a 1-year high of $21.13. 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 market cap of $448.99 million, a PE ratio of 6.86 and a beta of 0.97.

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

In related news, Director Consol Energy Inc. acquired 6,884 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $17.32 per share, with a total value of $119,230.88. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several large investors have recently bought and sold shares of the stock. Barclays PLC purchased a new position in shares of CONSOL Coal Resources during the 4th quarter worth approximately $34,000. Deutsche Bank AG boosted its position in shares of CONSOL Coal Resources by 10.7% during 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 period. Macquarie Group Ltd. purchased a new position in shares of CONSOL Coal Resources during the 4th quarter worth approximately $116,000. Acadian Asset Management LLC purchased a new position in shares of CONSOL Coal Resources during the 4th quarter worth approximately $176,000. Finally, Geode Capital Management LLC purchased a new position in shares of CONSOL Coal Resources during the 4th quarter worth approximately $611,000. 22.18% of the stock is owned by hedge funds and other 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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