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

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

Other research analysts also recently issued research reports about the company. ValuEngine downgraded CONSOL Coal Resources from a buy rating to a hold rating in a research note on Tuesday, February 11th. B. Riley cut their target price on CONSOL Coal Resources from $17.00 to $11.00 and set a buy rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. CONSOL Coal Resources presently has a consensus rating of Hold and an average price target of $13.55.

CCR stock opened at $7.90 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market capitalization of $226.31 million, a price-to-earnings ratio of 4.33 and a beta of 0.89. CONSOL Coal Resources has a fifty-two week low of $7.55 and a fifty-two week high of $18.87. The stock has a fifty day moving average of $9.90 and a 200-day moving average of $11.26.

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were paid a $0.512 dividend. The ex-dividend date was Friday, February 7th. This represents a $2.05 annualized dividend and a yield of 25.92%. CONSOL Coal Resources’s dividend payout ratio is currently 86.50%.

Large investors have recently added to or reduced their stakes in the business. Raffles Associates LP raised its holdings in shares of CONSOL Coal Resources by 15.9% in the 3rd quarter. Raffles Associates LP now owns 40,746 shares of the energy company’s stock valued at $550,000 after acquiring an additional 5,600 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of CONSOL Coal Resources by 112.2% in the 4th quarter. Bank of America Corp DE now owns 42,831 shares of the energy company’s stock valued at $403,000 after acquiring an additional 22,651 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of CONSOL Coal Resources in the 4th quarter valued at about $189,000. Jane Street Group LLC purchased a new stake in shares of CONSOL Coal Resources in the 4th quarter valued at about $1,019,000. Finally, Virtus ETF Advisers LLC raised its holdings in shares of CONSOL Coal Resources by 56.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 279,021 shares of the energy company’s stock valued at $2,623,000 after acquiring an additional 100,363 shares in the last quarter. 21.86% of the stock is currently 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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