CNX Coal Resources LP (NYSE:CNXC) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus reissued a “buy” rating and issued a $23.00 target price on shares of CNX Coal Resources in a research report on Tuesday. ValuEngine lowered CNX Coal Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $20.00 target price on CNX Coal Resources and gave the company a “buy” rating in a research report on Friday, August 18th. TheStreet raised CNX Coal Resources from a “d” rating to a “c” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research raised CNX Coal Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $21.17.
Shares of CNX Coal Resources (CNXC) traded down 0.34% during trading on Thursday, hitting $14.65. The stock had a trading volume of 37,270 shares. CNX Coal Resources has a 1-year low of $13.29 and a 1-year high of $22.30. The company has a market capitalization of $341.77 million, a price-to-earnings ratio of 8.94 and a beta of 1.52. The firm has a 50 day moving average of $14.93 and a 200 day moving average of $15.89.
CNX Coal Resources (NYSE:CNXC) last released 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). The business had revenue of $82.47 million for the quarter, compared to analyst estimates of $80.18 million. CNX Coal Resources had a return on equity of 22.89% and a net margin of 11.26%. Analysts expect that CNX Coal Resources will post $1.71 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in CNXC. Apollo Management Holdings L.P. raised its position in CNX Coal Resources by 72.1% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. raised its position in 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 last quarter. Freestone Capital Holdings LLC raised its position in 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 last quarter. Arrow Investment Advisors LLC acquired a new position in shares of CNX Coal Resources during the 2nd quarter worth approximately $676,000. Finally, Mountain Lake Investment Management LLC increased its position in shares of CNX Coal Resources by 6.5% during the 2nd quarter. Mountain Lake Investment Management LLC now owns 500,000 shares of the energy company’s stock worth $7,475,000 after purchasing an additional 30,400 shares during the last quarter. 59.87% 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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