Convergence Investment Partners LLC Sells 70,952 Shares of SunCoke Energy Inc (SXC)
Convergence Investment Partners LLC lessened its stake in SunCoke Energy Inc (NYSE:SXC) by 82.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,117 shares of the energy company’s stock after selling 70,952 shares during the quarter. Convergence Investment Partners LLC’s holdings in SunCoke Energy were worth $203,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. CAMG Solamere Management LLC bought a new position in shares of SunCoke Energy in the first quarter valued at approximately $112,000. SG Americas Securities LLC bought a new position in shares of SunCoke Energy in the first quarter valued at approximately $114,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of SunCoke Energy in the second quarter valued at approximately $183,000. Cubist Systematic Strategies LLC bought a new position in shares of SunCoke Energy in the first quarter valued at approximately $175,000. Finally, 6 Meridian bought a new position in shares of SunCoke Energy in the first quarter valued at approximately $207,000. Institutional investors own 91.14% of the company’s stock.
A number of research analysts have recently weighed in on SXC shares. B. Riley dropped their target price on SunCoke Energy from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, April 30th. Zacks Investment Research lowered SunCoke Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, ValuEngine upgraded SunCoke Energy from a “sell” rating to a “hold” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. SunCoke Energy has a consensus rating of “Hold” and an average price target of $14.00.
SunCoke Energy (NYSE:SXC) last issued its quarterly earnings results on Thursday, July 26th. The energy company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The business had revenue of $367.00 million for the quarter, compared to analyst estimates of $313.95 million. SunCoke Energy had a return on equity of 5.36% and a net margin of 11.19%. SunCoke Energy’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company posted ($0.38) earnings per share. research analysts anticipate that SunCoke Energy Inc will post 0.28 EPS for the current year.
SunCoke Energy Company Profile
SunCoke Energy, Inc operates as an independent producer of coke in the Americas. The company operates through three segments: Domestic Coke, Brazil Coke, and Logistics. It offers metallurgical and thermal coal. The company also provides handling and/or mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers.
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