Parkwood LLC Invests $109,000 in Ramaco Resources, Inc. (NASDAQ:METC)

Parkwood LLC bought a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) during the fourth quarter, Holdings Channel.com reports. The fund bought 10,613 shares of the energy company’s stock, valued at approximately $109,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Harbour Capital Advisors LLC purchased a new position in Ramaco Resources during the fourth quarter worth approximately $540,000. Barclays PLC raised its stake in shares of Ramaco Resources by 369.7% during the 3rd quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock worth $519,000 after buying an additional 34,954 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Ramaco Resources by 97.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock valued at $802,000 after buying an additional 33,788 shares in the last quarter. Principal Financial Group Inc. grew its stake in Ramaco Resources by 11.0% in the 4th quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company’s stock valued at $390,000 after acquiring an additional 3,754 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Ramaco Resources in the 4th quarter worth $224,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on METC. B. Riley decreased their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Benchmark reduced their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday.

Ramaco Resources Stock Performance

Shares of NASDAQ:METC opened at $9.90 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $15.49. The firm has a market capitalization of $439.64 million, a PE ratio of 15.23 and a beta of 1.28. The business’s 50 day moving average price is $9.01 and its 200-day moving average price is $10.08.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company had revenue of $115.61 million for the quarter, compared to analysts’ expectations of $137.10 million. During the same quarter in the previous year, the company posted $0.23 EPS. The firm’s quarterly revenue was down 22.0% on a year-over-year basis. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, May 30th. Ramaco Resources’s dividend payout ratio is currently 245.45%.

Insider Buying and Selling

In other news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the sale, the insider now directly owns 1,052,404 shares in the company, valued at $9,313,775.40. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Leidel sold 225,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total value of $1,818,000.00. Following the completion of the sale, the director now directly owns 677,403 shares of the company’s stock, valued at approximately $5,473,416.24. This represents a 24.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is owned by insiders.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.