CNX Coal Resources LP (NYSE:CNXC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.
Several other equities research analysts also recently weighed in on CNXC. Zacks Investment Research downgraded shares of CNX Coal Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th. Jefferies Group LLC set a $20.00 price objective on shares of CNX Coal Resources and gave the stock a “buy” rating in a report on Monday, July 10th. Clarkson Capital reaffirmed a “buy” rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. Stifel Nicolaus set a $23.00 price objective on shares of CNX Coal Resources and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, TheStreet raised shares of CNX Coal Resources from a “d” rating to a “c” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.60.
CNX Coal Resources (NYSE CNXC) opened at 14.95 on Wednesday. CNX Coal Resources has a one year low of $14.50 and a one year high of $22.30. The stock has a 50 day moving average of $14.93 and a 200-day moving average of $14.93. The stock has a market cap of $348.77 million, a P/E ratio of 9.12 and a beta of 1.48.
CNX Coal Resources (NYSE:CNXC) last posted its quarterly earnings data on Monday, July 31st. The energy company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.11). The company had revenue of $82.47 million during the quarter, compared to analyst estimates of $80.18 million. CNX Coal Resources had a return on equity of 22.89% and a net margin of 11.26%. Analysts anticipate that CNX Coal Resources will post $1.67 EPS for the current year.
A number of institutional investors have recently modified their holdings of CNXC. Goldman Sachs Group Inc. raised its position in CNX Coal Resources by 94.2% in the first quarter. Goldman Sachs Group Inc. now owns 149,193 shares of the energy company’s stock worth $2,529,000 after acquiring an additional 72,361 shares in the last quarter. Freestone Capital Holdings LLC raised its position in CNX Coal Resources by 23.6% in the second quarter. Freestone Capital Holdings LLC now owns 208,639 shares of the energy company’s stock worth $3,119,000 after acquiring an additional 39,868 shares in the last quarter. Arrow Investment Advisors LLC bought a new stake in CNX Coal Resources in the second quarter worth about $676,000. Finally, Mountain Lake Investment Management LLC raised its position in CNX Coal Resources by 6.5% in the second quarter. Mountain Lake Investment Management LLC now owns 500,000 shares of the energy company’s stock worth $7,475,000 after acquiring an additional 30,400 shares in the last quarter. Hedge funds and other institutional investors own 59.87% of the company’s stock.
CNX Coal Resources Company Profile
CNX Coal Resources LP is a producer of high-British thermal units (Btu) thermal coal in the Northern Appalachian Basin and the eastern United States. It is engaged in the management and development of coal operations of CONSOL Energy Inc (CONSOL Energy) in Pennsylvania. It holds interest in, and operational control over, CONSOL Energy’s Pennsylvania Mining Complex, which consists of three underground mines and related infrastructure that produce high-Btu bituminous thermal coal that is sold primarily to electric utilities in the eastern United States.
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