CNX Coal Resources’ (CNXC) Buy Rating Reiterated at Jefferies Group LLC
CNX Coal Resources LP (NYSE:CNXC)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group LLC in a research report issued on Friday. They presently have a $20.00 price target on the energy company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 27.39% from the company’s previous close.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of CNX Coal Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 21st. Clarkson Capital reissued a “buy” rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. BidaskClub raised shares of CNX Coal Resources from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Stifel Nicolaus set a $23.00 target price 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. CNX Coal Resources presently has a consensus rating of “Buy” and an average target price of $21.17.
CNX Coal Resources (NYSE CNXC) traded down 2.23% during midday trading on Friday, hitting $15.35. The stock had a trading volume of 11,587 shares. CNX Coal Resources has a 52-week low of $12.48 and a 52-week high of $22.30. The firm has a 50-day moving average of $16.01 and a 200 day moving average of $16.13. The firm has a market capitalization of $358.10 million, a P/E ratio of 9.37 and a beta of 1.51.
CNX Coal Resources (NYSE:CNXC) last issued its earnings results on Monday, July 31st. The energy company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.11. CNX Coal Resources had a return on equity of 22.89% and a net margin of 11.26%. The business had revenue of $82.47 million for the quarter, compared to analysts’ expectations of $80.18 million. On average, equities analysts forecast that CNX Coal Resources will post $1.75 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNXC. Arrow Investment Advisors LLC purchased a new position in CNX Coal Resources during the second quarter worth $676,000. Howard Hughes Medical Institute boosted 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 worth $698,000 after buying an additional 3,521 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 buying an additional 72,361 shares during the last quarter. Freestone Capital Holdings LLC boosted 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 buying an additional 39,868 shares during the last quarter. Finally, Apollo Management Holdings L.P. boosted 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 worth $4,120,000 after buying an additional 101,788 shares during the last quarter. 60.78% of the stock is owned by institutional investors.
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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