CNX Coal Resources LP (CNXC) Price Target Increased to $23.00 by Analysts at FBR & Co
A number of other equities analysts have also weighed in on the company. Zacks Investment Research upgraded CNX Coal Resources from a hold rating to a buy rating and set a $17.00 target price on the stock in a research note on Thursday, September 22nd. Citigroup Inc. started coverage on CNX Coal Resources in a research note on Thursday, July 28th. They set a neutral rating and a $14.00 target price on the stock. Jefferies Group increased their target price on CNX Coal Resources from $11.00 to $13.00 and gave the stock a hold rating in a research note on Tuesday, August 23rd. Seaport Global Securities started coverage on CNX Coal Resources in a research note on Thursday, November 3rd. They set a buy rating and a $23.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on CNX Coal Resources from $15.00 to $17.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $19.29.
CNX Coal Resources (NYSE:CNXC) opened at 19.15 on Wednesday. CNX Coal Resources has a 12 month low of $5.98 and a 12 month high of $22.30. The firm has a 50-day moving average price of $17.94 and a 200 day moving average price of $13.00. The company has a market cap of $444.84 million, a P/E ratio of 24.30 and a beta of 1.86.
CNX Coal Resources (NYSE:CNXC) last announced its earnings results on Monday, October 31st. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.08. The firm had revenue of $69.80 million for the quarter, compared to the consensus estimate of $59.28 million. CNX Coal Resources had a return on equity of 11.01% and a net margin of 8.26%. On average, equities analysts expect that CNX Coal Resources will post $0.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Thursday, November 10th were issued a $0.512 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 10.69%. The ex-dividend date of this dividend was Tuesday, November 8th. CNX Coal Resources’s dividend payout ratio is presently 256.25%.
Several large investors have recently modified their holdings of CNXC. A.R.T. Advisors LLC acquired a new stake in shares of CNX Coal Resources during the second quarter worth $150,000. KCG Holdings Inc. acquired a new stake in shares of CNX Coal Resources during the third quarter worth $169,000. Ameriprise Financial Inc. acquired a new stake in shares of CNX Coal Resources during the third quarter worth $250,000. Bradley Foster & Sargent Inc. CT acquired a new stake in shares of CNX Coal Resources during the third quarter worth $376,000. Finally, EJF Capital LLC increased its stake in shares of CNX Coal Resources by 40.4% in the third quarter. EJF Capital LLC now owns 50,000 shares of the company’s stock worth $775,000 after buying an additional 14,396 shares in the last quarter. 60.01% of the stock is currently owned by hedge funds and other institutional investors.
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CNX Coal Resources Company Profile
CNX Coal Resources LP is a producer of thermal coal in the Northern Appalachian Basin and the eastern United States. The Company is engaged in the management and development of the thermal coal operations of CONSOL Energy Inc (CONSOL Energy) in Pennsylvania. The Company’s assets include interests in CONSOL Energy’s Pennsylvania mining complex, which consists of approximately three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States.
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