CONSOL Energy Inc. (NYSE:CNX) currently trades at $18.30 which is about -3.63% lower than the 52-week high of $22.34. The trading volume at ready counter moved to 5.16M shares as compared to 2.97M shares average traded volume. The stock failed to get pushed above the $18.73 barrier, the intraday high, after opening at $18.73. Analysts have a consensus target price of $22.58 in the 12-month period. Its market capitalization has now reached to $4.13B.
CONSOL Energy Inc. (NYSE:CNX) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus Strong buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 3 have assigned a hold rating, Zero says it’s a buy and 5 have assigned a strong buy rating to the company.
CONSOL Energy Inc. (CNX) on January 31, 2017 reported financial and operating results for the quarter ended December 31, 2016.
Fourth Quarter 2016 Results
Highlights of the CNXC fourth quarter 2016 results include:
- Cash distribution of $0.5125 per limited partner unit for the fourth quarter
- Record quarterly production and sales volume
- Net income of $11.7 million
- Adjusted EBITDA1 of $25.1 million
- Distribution coverage ratio1 of 1.0x
Management Comments
“I am very excited to report that the CNXC team performed extremely well on multiple fronts during the fourth quarter of 2016,” said Jimmy Brock, Chief Executive Officer of CNX Coal Resources GP LLC (the “General Partner”). “The operational team responded to the opportunities created in the domestic and seaborne markets and produced record volumes this quarter for the Pennsylvania mining complex (the “PAMC”). Our marketing team delivered these record production volumes to our customers as coal regained market share from natural gas and coal export markets remained strong. From a financial standpoint, these record shipments helped us achieve a distribution coverage ratio of 1.0x and generated net cash provided by operating activities of $25.8 million during the quarter.”
“On the safety front, I am pleased to announce that our central preparation plant delivered another full quarter without any safety exceptions. This is the seventh consecutive exception-free quarter for the preparation plant. For the PAMC in its entirety, we were also successful in reducing the severity of our exceptions compared to the same period last year. Safety remains our top core value and we continue to strive for further improvements.”
