CNX Coal Resources LP (CNXC) Given a $18.00 Price Target at Jefferies Group
CNX Coal Resources LP (NYSE:CNXC) received a $18.00 price objective from equities researchers at Jefferies Group in a research report issued to clients and investors on Sunday. The firm currently has a a “hold” rating on the stock. Jefferies Group’s target price indicates a potential upside of 7.66% from the company’s current price.
A number of other research firms have also recently issued reports on CNXC. FBR & Co set a $19.00 target price on shares of CNX Coal Resources and gave the stock an “outperform” rating in a research note on Thursday. Zacks Investment Research upgraded shares of CNX Coal Resources from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, July 13th. Stifel Nicolaus raised their target price on shares of CNX Coal Resources from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. initiated coverage on shares of CNX Coal Resources in a research note on Thursday, July 28th. They set a “neutral” rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.43.
CNX Coal Resources (NYSE:CNXC) traded down 2.44% during trading on Friday, reaching $16.40. 65,869 shares of the company’s stock were exchanged. The firm has a market cap of $380.84 million, a P/E ratio of 683.33 and a beta of 2.03. CNX Coal Resources has a 52-week low of $5.98 and a 52-week high of $19.23. The stock’s 50 day moving average price is $14.93 and its 200 day moving average price is $10.93.
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CNX Coal Resources (NYSE:CNXC) last posted its earnings results on Friday, July 29th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by $0.02. CNX Coal Resources had a return on equity of 16.14% and a net margin of 12.85%. Equities research analysts anticipate that CNX Coal Resources will post $0.84 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in CNXC. A.R.T. Advisors LLC acquired a new position in CNX Coal Resources during the second quarter worth approximately $150,000. EJF Capital acquired a new position in CNX Coal Resources during the third quarter worth approximately $281,000. Howard Hughes Medical Institute raised its position in CNX Coal Resources by 20.4% in the first quarter. Howard Hughes Medical Institute now owns 37,552 shares of the company’s stock worth $270,000 after buying an additional 6,353 shares in the last quarter. Renaissance Technologies LLC acquired a new position in CNX Coal Resources during the first quarter worth approximately $698,000. Finally, Scion Asset Management LLC acquired a new position in CNX Coal Resources during the fourth quarter worth approximately $2,376,000. 59.04% of the stock is currently owned by institutional investors and hedge funds.
About CNX Coal Resources
CNX Coal Resources LP is a producer of thermal coal in the Northern Appalachian Basin and the eastern United States. The Company is engaged in the management and development of the thermal coal operations of CONSOL Energy Inc (CONSOL Energy) in Pennsylvania. The Company’s assets include interests in CONSOL Energy’s Pennsylvania mining complex, which consists of approximately three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States.
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