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9 Coal Stocks With Upside

Stocks in this article: NRP ARLP PVR CNX WLT CLD JRCC

6. Consol Energy (CNX - Get Report), operating in the coal and gas segments, is a multi-fuel energy producer and energy services provider serving the U.S. electric power generation industry. The company's properties are located in the Northern and the Central Appalachian basin from where it produces pipeline coalbed methane (CBM) gas, and oil and gas from properties in the Appalachian and Illinois Basins.

For the first quarter 2011, the company reported GAAP net income of $192 million or 84 cents per diluted share, compared to $100 million or 54 cents per diluted share in the prior year's same quarter. The coal division, posting record revenue of $1.13 billion, contributed towards a 92% increase in net income. Sales for the quarter were $1.4 billion from $1.2 billion in the earlier quarter. Coal sales of 16.7 million tons were higher than expected, while average realized price per ton increased $10 per ton.

For the second quarter of 2011, coal production is seen ranging from 14.75 to 15.25 million tons. The company has raised its coal production guidance for 2011 to 60-62 million tons from the prior estimate of 59 to 61 million tons. Similarly, gas production guidance ranges between 150 to 160 Bcf. For 2012 and 2013, the company has upped its coal production guidance by 0.5 million tons, reflecting start-up of mid-volume production at its idled Amonate Met Mine.

Of the 27 analysts covering the stock, 78% recommended a buy and 19% rate a hold. The stock's average 12-month price target is $62.57, or 27.9% higher than the current price, analysts polled by Bloomberg say.

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