SunCoke Energy, Inc. (NYSE:SXC) Sees Large Drop in Short Interest
by Jessica Moore · The Cerbat GemSunCoke Energy, Inc. (NYSE:SXC – Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 2,553,552 shares, a decline of 54.4% from the March 15th total of 5,598,652 shares. Based on an average daily trading volume, of 3,135,822 shares, the short-interest ratio is presently 0.8 days. Currently, 3.1% of the shares of the company are sold short.
SunCoke Energy Stock Performance
SXC stock traded down $0.16 during midday trading on Tuesday, hitting $6.17. 893,602 shares of the stock traded hands, compared to its average volume of 2,203,892. The firm has a market cap of $523.46 million, a P/E ratio of -11.87 and a beta of 0.87. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.11 and a quick ratio of 1.11. The stock’s fifty day simple moving average is $6.58 and its 200-day simple moving average is $7.18. SunCoke Energy has a 1-year low of $5.51 and a 1-year high of $9.82.
SunCoke Energy (NYSE:SXC – Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The energy company reported ($1.00) EPS for the quarter, missing the consensus estimate of $0.10 by ($1.10). The firm had revenue of $480.20 million for the quarter, compared to analyst estimates of $437.45 million. SunCoke Energy had a negative net margin of 2.41% and a positive return on equity of 7.43%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. On average, analysts expect that SunCoke Energy will post 0.71 earnings per share for the current year.
SunCoke Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Tuesday, February 17th. SunCoke Energy’s dividend payout ratio (DPR) is presently -92.31%.
Insider Buying and Selling at SunCoke Energy
In related news, CFO Mark W. Marinko acquired 10,000 shares of the stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the completion of the purchase, the chief financial officer owned 71,798 shares of the company’s stock, valued at approximately $419,300.32. This represents a 16.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Phillip Michael Hardesty acquired 12,500 shares of the stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $5.83 per share, with a total value of $72,875.00. Following the completion of the purchase, the senior vice president directly owned 298,677 shares of the company’s stock, valued at approximately $1,741,286.91. This trade represents a 4.37% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.66% of the company’s stock.
Hedge Funds Weigh In On SunCoke Energy
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SXC. Gendell Jeffrey L lifted its holdings in SunCoke Energy by 82.3% during the fourth quarter. Gendell Jeffrey L now owns 1,472,040 shares of the energy company’s stock valued at $10,599,000 after purchasing an additional 664,528 shares in the last quarter. Invesco Ltd. lifted its holdings in SunCoke Energy by 72.0% during the second quarter. Invesco Ltd. now owns 1,445,764 shares of the energy company’s stock valued at $12,419,000 after purchasing an additional 605,366 shares in the last quarter. Federated Hermes Inc. lifted its holdings in SunCoke Energy by 65.5% during the fourth quarter. Federated Hermes Inc. now owns 1,422,356 shares of the energy company’s stock valued at $10,241,000 after purchasing an additional 562,739 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SunCoke Energy by 30.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,153,408 shares of the energy company’s stock valued at $15,505,000 after purchasing an additional 503,500 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in SunCoke Energy by 119.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 759,682 shares of the energy company’s stock valued at $5,470,000 after purchasing an additional 413,579 shares in the last quarter. 90.45% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SXC has been the subject of several recent research reports. B. Riley Financial reduced their target price on shares of SunCoke Energy from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Weiss Ratings cut shares of SunCoke Energy from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SunCoke Energy has an average rating of “Reduce” and an average target price of $9.00.
Read Our Latest Research Report on SunCoke Energy
About SunCoke Energy
SunCoke Energy, Inc is a leading independent producer of metallurgical coke and related products for the steel and foundry industries. The company specializes in manufacturing both blast furnace coke and foundry coke, offering high‐quality, low‐sulfur coal products that serve as essential inputs in steelmaking and metal casting processes. In addition to coke production, SunCoke provides comprehensive engineering, maintenance and environmental solutions tailored to the needs of integrated steel mills and foundries.
The company operates a network of coke production facilities across the United States, including plants in Indiana, Ohio, West Virginia and Louisiana.