CNX Coal Resources LP (NYSE:CNXC) Rating Increased to C at TheStreet
CNX Coal Resources LP (NYSE:CNXC) was upgraded by equities research analysts at TheStreet from a “d” rating to a “c” rating in a note issued to investors on Wednesday.
Several other research firms also recently commented on CNXC. BidaskClub raised CNX Coal Resources from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Clarkson Capital reaffirmed a “buy” rating on shares of CNX Coal Resources in a research report on Wednesday, July 12th. Zacks Investment Research raised CNX Coal Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of CNX Coal Resources in a research report on Thursday, June 8th. Finally, Stifel Nicolaus set a $23.00 target price on CNX Coal Resources and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CNX Coal Resources presently has a consensus rating of “Buy” and an average price target of $21.17.
Shares of CNX Coal Resources (CNXC) traded down 1.86% during midday trading on Wednesday, reaching $15.80. The company had a trading volume of 12,077 shares. The company’s 50-day moving average is $15.99 and its 200-day moving average is $16.22. The firm has a market cap of $368.60 million, a P/E ratio of 9.64 and a beta of 1.51. CNX Coal Resources has a 52-week low of $12.33 and a 52-week high of $22.30.
CNX Coal Resources (NYSE:CNXC) last posted its earnings results on Monday, July 31st. The energy company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.51 by $0.11. CNX Coal Resources had a net margin of 11.26% and a return on equity of 22.89%. The firm had revenue of $82.47 million during the quarter, compared to analyst estimates of $80.18 million. Equities research analysts expect that CNX Coal Resources will post $1.75 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Arrow Investment Advisors LLC bought a new stake in shares of CNX Coal Resources during the second quarter valued at about $676,000. Freestone Capital Holdings LLC boosted its stake in shares of 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 valued at $3,119,000 after buying an additional 39,868 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of 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. Apollo Management Holdings L.P. boosted its stake in shares of 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, Howard Hughes Medical Institute boosted its stake in shares of 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. Institutional investors and hedge funds own 60.78% 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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