Zacks Investment Research downgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a hold rating to a sell rating in a report published on Monday.
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. “
CNXC has been the topic of several other research reports. Stifel Nicolaus reissued a buy rating and set a $23.00 price objective on shares of CNX Coal Resources in a research note on Tuesday, September 12th. Clarkson Capital reissued a buy rating on shares of CNX Coal Resources in a research note on Wednesday, July 12th. Jefferies Group LLC set a $20.00 price objective on shares of CNX Coal Resources and gave the stock a buy rating in a research note on Friday, August 18th. ValuEngine lowered shares of CNX Coal Resources from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of CNX Coal Resources from a hold rating to a sell rating in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $21.60.
CNX Coal Resources (NYSE CNXC) traded up 1.283% during midday trading on Monday, hitting $15.395. 552 shares of the stock were exchanged. CNX Coal Resources has a one year low of $14.50 and a one year high of $22.30. The firm has a market capitalization of $359.15 million, a price-to-earnings ratio of 9.393 and a beta of 1.48. The company has a 50 day moving average price of $14.93 and a 200 day moving average price of $14.93.
CNX Coal Resources (NYSE:CNXC) last released its quarterly earnings data on Monday, July 31st. The energy company reported $0.40 earnings per share for the quarter, missing the 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 firm had revenue of $82.47 million for the quarter, compared to the consensus estimate of $80.18 million. Equities analysts anticipate that CNX Coal Resources will post $1.67 EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Arrow Investment Advisors LLC bought a new position in CNX Coal Resources in the second quarter valued at approximately $676,000. Goldman Sachs Group Inc. lifted its stake 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 in the last quarter. Freestone Capital Holdings LLC lifted its stake 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 valued at $3,119,000 after buying an additional 39,868 shares in the last quarter. Apollo Management Holdings L.P. lifted its stake 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 in the last quarter. Finally, Mountain Lake Investment Management LLC lifted its stake in CNX Coal Resources by 6.5% in 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 buying an additional 30,400 shares in the last quarter. 59.87% of the stock is currently owned by hedge funds and other 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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