CNX Coal Resources LP (CNXC) Given Average Recommendation of “Buy” by Analysts
Shares of CNX Coal Resources LP (NYSE:CNXC) have earned a consensus rating of “Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $20.00.
CNXC has been the subject of a number of research reports. Zacks Investment Research lowered shares of CNX Coal Resources from a “hold” rating to a “sell” rating in a research note on Monday, April 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of CNX Coal Resources in a research note on Thursday, June 8th.
CNX Coal Resources (NYSE CNXC) opened at 15.20 on Friday. The company has a 50 day moving average of $15.97 and a 200 day moving average of $16.76. CNX Coal Resources has a 52 week low of $8.31 and a 52 week high of $22.30. The company has a market capitalization of $354.60 million, a price-to-earnings ratio of 12.81 and a beta of 1.47.
CNX Coal Resources (NYSE:CNXC) last released its quarterly earnings data on Monday, May 1st. The energy company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.03. CNX Coal Resources had a return on equity of 18.32% and a net margin of 10.02%. The business had revenue of $83.28 million during the quarter, compared to analysts’ expectations of $79.92 million. On average, equities analysts forecast that CNX Coal Resources will post $1.76 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in CNX Coal Resources by 81.9% in the fourth quarter. Renaissance Technologies LLC now owns 116,965 shares of the energy company’s stock valued at $2,135,000 after buying an additional 52,665 shares during the period. GSA Capital Partners LLP increased its position in CNX Coal Resources by 80.9% in the fourth quarter. GSA Capital Partners LLP now owns 65,277 shares of the energy company’s stock valued at $1,191,000 after buying an additional 29,197 shares during the period. Howard Hughes Medical Institute increased its position in CNX Coal Resources by 9.3% in the first quarter. Howard Hughes Medical Institute now owns 41,200 shares of the energy company’s stock valued at $698,000 after buying an additional 3,521 shares during the period. Apollo Management Holdings L.P. increased its position in CNX Coal Resources by 72.1% in the first quarter. Apollo Management Holdings L.P. now owns 243,047 shares of the energy company’s stock valued at $4,120,000 after buying an additional 101,788 shares during the period. Finally, Goldman Sachs Group Inc. increased 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 valued at $2,529,000 after buying an additional 72,361 shares during the period. Institutional investors and hedge funds own 60.79% of the company’s stock.
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About CNX Coal Resources
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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