CNX Coal Resources LP (CNXC) Downgraded to Sell at BidaskClub

BidaskClub cut shares of CNX Coal Resources LP (NYSE:CNXC) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reaffirmed a buy rating and issued a $23.00 price objective on shares of CNX Coal Resources in a report on Friday, October 13th. FBR & Co set a $23.00 price objective on CNX Coal Resources and gave the company a buy rating in a report on Tuesday, October 31st. Clarkson Capital reaffirmed a buy rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. Jefferies Group LLC set a $20.00 price objective on CNX Coal Resources and gave the company a buy rating in a report on Monday, July 10th. Finally, ValuEngine cut CNX Coal Resources from a strong-buy rating to a buy rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $20.20.

CNX Coal Resources (CNXC) traded down $0.35 during trading hours on Tuesday, hitting $13.55. The company’s stock had a trading volume of 146,602 shares, compared to its average volume of 51,633. The stock has a market capitalization of $390.61, a P/E ratio of 10.36 and a beta of 1.45. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26. CNX Coal Resources has a 12-month low of $13.85 and a 12-month high of $22.30.

CNX Coal Resources (NYSE:CNXC) last announced its quarterly earnings data on Monday, October 30th. The energy company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.35). The company had revenue of $78.26 million during the quarter, compared to analyst estimates of $76.46 million. CNX Coal Resources had a net margin of 9.94% and a return on equity of 21.14%. equities analysts forecast that CNX Coal Resources will post 1.43 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be paid a $0.5125 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $2.05 annualized dividend and a dividend yield of 15.13%. CNX Coal Resources’s payout ratio is 148.55%.

Institutional investors and hedge funds have recently modified their holdings of the company. Arrow Investment Advisors LLC bought a new position in shares of CNX Coal Resources in the 2nd quarter valued at $676,000. Mountain Lake Investment Management LLC increased its stake 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 purchasing an additional 30,400 shares during the last quarter. Freestone Capital Holdings LLC increased its stake 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 purchasing an additional 39,868 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake 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 purchasing an additional 72,361 shares during the last quarter. Institutional investors own 60.17% 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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