Zacks Investment Research upgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a strong sell rating to a hold rating in a research note 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 subject of a number of other research reports. ValuEngine cut CNX Coal Resources from a strong-buy rating to a buy rating in a research report on Friday, September 1st. BidaskClub raised CNX Coal Resources from a sell rating to a hold rating in a research report on Wednesday, September 27th. Stifel Nicolaus reaffirmed a buy rating and set a $23.00 price target on shares of CNX Coal Resources in a research report on Friday, October 13th. TheStreet raised CNX Coal Resources from a d rating to a c rating in a research report on Wednesday, August 9th. Finally, Clarkson Capital reaffirmed a buy rating on shares of CNX Coal Resources in a research report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $20.67.
CNX Coal Resources (NYSE CNXC) traded up 1.33% during mid-day trading on Monday, reaching $15.20. The company had a trading volume of 6,893 shares. The firm has a market capitalization of $354.60 million, a PE ratio of 9.27 and a beta of 1.48. CNX Coal Resources has a 52 week low of $14.50 and a 52 week high of $22.30. The stock’s 50-day moving average price is $15.01 and its 200 day moving average price is $15.67.
CNX Coal Resources (NYSE:CNXC) last issued its quarterly earnings results on Monday, July 31st. The energy company reported $0.40 EPS for the quarter, missing the Zacks’ 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 analyst estimates of $80.18 million. On average, equities research analysts predict that CNX Coal Resources will post $1.60 EPS for the current year.
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Hedge funds have recently modified their holdings of the company. Arrow Investment Advisors LLC acquired a new position in shares of CNX Coal Resources in the 2nd quarter valued at about $676,000. Goldman Sachs Group Inc. lifted its holdings in shares of CNX Coal Resources by 94.2% in the 1st 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. Freestone Capital Holdings LLC lifted its holdings in shares of CNX Coal Resources by 23.6% in the 2nd 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. Finally, Mountain Lake Investment Management LLC lifted its holdings in shares of CNX Coal Resources by 6.5% in the 2nd 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 during the period. 59.87% of the stock is owned by institutional investors and hedge funds.
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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