Stifel Nicolaus Analysts Give CNX Coal Resources LP (CNXC) a $23.00 Price Target

CNX Coal Resources LP (NYSE:CNXC) has been assigned a $23.00 target price by analysts at Stifel Nicolaus in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 44.65% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Clarkson Capital reiterated a “buy” rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. Jefferies Group LLC set a $20.00 target price on CNX Coal Resources and gave the company a “buy” rating in a report on Monday, July 10th. BidaskClub upgraded CNX Coal Resources from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Zacks Investment Research upgraded CNX Coal Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $21.17.

Shares of CNX Coal Resources (NYSE CNXC) opened at 15.90 on Wednesday. The company has a 50 day moving average of $15.93 and a 200 day moving average of $16.24. CNX Coal Resources has a 52-week low of $11.98 and a 52-week high of $22.30. The firm has a market capitalization of $370.93 million, a PE ratio of 9.70 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 for the quarter, missing analysts’ consensus estimates of $0.51 by $0.11. The business had revenue of $82.47 million during the quarter, compared to analyst estimates of $80.18 million. CNX Coal Resources had a net margin of 11.26% and a return on equity of 22.89%. On average, analysts anticipate that CNX Coal Resources will post $1.75 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. Howard Hughes Medical Institute increased its position 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 worth $698,000 after buying an additional 3,521 shares in the last quarter. 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 worth $2,135,000 after buying an additional 52,665 shares in the last quarter. 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 worth $2,529,000 after buying an additional 72,361 shares in the last quarter. Freestone Capital Holdings LLC increased 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 in the last quarter. Finally, 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 worth $4,120,000 after buying an additional 101,788 shares in the last quarter. Institutional investors own 60.78% of the company’s stock.

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.

Analyst Recommendations for CNX Coal Resources (NYSE:CNXC)

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