CNX Coal Resources LP (CNXC) Stock Rating Upgraded by Zacks Investment Research
CNX Coal Resources LP (NYSE:CNXC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “CNX Coal Resources LP is engaged in production of thermal coal. It manages and develops CONSOL Energy’s active thermal coal operations primarily in Pennsylvania. The company sells its coal to electric utilities. CNX Coal Resources LP is based in CANONSBURG, United States. “
A number of other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of CNX Coal Resources from a “sell” rating to a “strong sell” rating in a research report on Wednesday. B. Riley reiterated a “buy” rating on shares of CNX Coal Resources in a research report on Wednesday, November 1st. FBR & Co set a $23.00 price objective on shares of CNX Coal Resources and gave the company a “buy” rating in a research report on Tuesday, October 31st. Citigroup Inc. lowered their price objective on shares of CNX Coal Resources from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus restated a “buy” rating and set a $23.00 price objective on shares of CNX Coal Resources in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $20.20.
CNX Coal Resources (NYSE:CNXC) last issued its quarterly earnings data on Monday, October 30th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.35). The company had revenue of $78.26 million for the quarter, compared to analyst estimates of $76.46 million. CNX Coal Resources had a return on equity of 21.14% and a net margin of 9.94%. sell-side analysts anticipate that CNX Coal Resources will post 1.41 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Arrow Investment Advisors LLC acquired a new position in shares of CNX Coal Resources during the second quarter valued at about $676,000. Goldman Sachs Group Inc. raised its holdings in shares of CNX Coal Resources by 94.2% during the first quarter. Goldman Sachs Group Inc. now owns 149,193 shares of the energy company’s stock valued at $2,529,000 after purchasing an additional 72,361 shares during the period. Freestone Capital Holdings LLC raised its holdings in shares of CNX Coal Resources by 23.6% during the second quarter. Freestone Capital Holdings LLC now owns 208,639 shares of the energy company’s stock valued at $3,119,000 after purchasing an additional 39,868 shares during the period. Finally, Mountain Lake Investment Management LLC raised its holdings in shares of CNX Coal Resources by 6.5% during the second quarter. Mountain Lake Investment Management LLC now owns 500,000 shares of the energy company’s stock valued at $7,475,000 after purchasing an additional 30,400 shares during the period. 25.67% of the stock is currently owned by institutional investors and hedge funds.
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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