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 issued to investors on Thursday morning.
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. “
Other analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of CNX Coal Resources from a sell rating to a hold rating in a research note on Monday, July 31st. TheStreet upgraded shares of CNX Coal Resources from a d rating to a c rating in a research note on Wednesday, August 9th. Stifel Nicolaus set a $23.00 price target on shares of CNX Coal Resources and gave the stock a buy rating in a research note on Wednesday, August 9th. ValuEngine cut shares of CNX Coal Resources from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC set a $20.00 price target on shares of CNX Coal Resources and gave the stock a buy rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. CNX Coal Resources has a consensus rating of Buy and a consensus price target of $20.20.
CNX Coal Resources (CNXC) traded up $0.25 during midday trading on Thursday, hitting $13.60. 22,973 shares of the company were exchanged, compared to its average volume of 49,055. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.70 and a quick ratio of 0.52. The stock has a market cap of $371.49 and a P/E ratio of 9.64. CNX Coal Resources has a 1 year low of $12.56 and a 1 year high of $20.40.
CNX Coal Resources (NYSE:CNXC) last posted its earnings results on Monday, October 30th. The energy company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.35). The company had revenue of $78.26 million during the quarter, compared to analysts’ expectations of $76.46 million. CNX Coal Resources had a net margin of 9.94% and a return on equity of 21.14%. equities analysts expect that CNX Coal Resources will post 1.41 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th were paid a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 15.07%. The ex-dividend date was Tuesday, November 7th. CNX Coal Resources’s dividend payout ratio is currently 148.55%.
Hedge funds have recently added to or reduced their stakes in the company. Arrow Investment Advisors LLC acquired a new stake in shares of CNX Coal Resources in the 2nd quarter worth $676,000. Goldman Sachs Group Inc. lifted 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 worth $2,529,000 after acquiring an additional 72,361 shares during the period. Freestone Capital Holdings LLC lifted 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 worth $3,119,000 after acquiring an additional 39,868 shares during the period. Finally, Mountain Lake Investment Management LLC lifted 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 worth $7,475,000 after acquiring an additional 30,400 shares during the period. Institutional investors own 25.67% 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.
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