ValuEngine Lowers CNX Coal Resources LP (CNXC) to Buy
ValuEngine cut shares of CNX Coal Resources LP (NYSE:CNXC) from a strong-buy rating to a buy rating in a research report report published on Friday morning.
Several other analysts have also weighed in on the company. Zacks Investment Research upgraded CNX Coal Resources from a strong sell rating to a hold rating in a report on Wednesday, July 19th. Jefferies Group LLC restated a buy rating and set a $20.00 price target on shares of CNX Coal Resources in a report on Thursday, June 8th. BidaskClub upgraded CNX Coal Resources from a sell rating to a hold rating in a report on Monday, July 31st. Clarkson Capital restated a buy rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. Finally, TheStreet upgraded CNX Coal Resources from a d rating to a c rating in a report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $21.17.
CNX Coal Resources (NYSE CNXC) opened at 15.70 on Friday. CNX Coal Resources has a 12 month low of $12.97 and a 12 month high of $22.30. The firm’s 50-day moving average is $15.89 and its 200-day moving average is $15.93. The company has a market cap of $366.27 million, a price-to-earnings ratio of 9.58 and a beta of 1.52.
CNX Coal Resources (NYSE:CNXC) last released its quarterly earnings results on Monday, July 31st. The energy company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.11. CNX Coal Resources had a net margin of 11.26% and a return on equity of 22.89%. The company had revenue of $82.47 million for the quarter, compared to analysts’ expectations of $80.18 million. On average, analysts anticipate that CNX Coal Resources will post $1.75 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were issued a dividend of $0.5125 per share. The ex-dividend date was Thursday, August 3rd. This represents a $2.05 annualized dividend and a yield of 13.06%. CNX Coal Resources’s payout ratio is presently 134.87%.
Hedge funds have recently added to or reduced their stakes in the business. Arrow Investment Advisors LLC purchased a new stake in CNX Coal Resources in the second quarter worth $676,000. Goldman Sachs Group Inc. increased its stake in CNX Coal Resources by 94.2% in the first quarter. Goldman Sachs Group Inc. now owns 149,193 shares of the energy company’s stock worth $2,529,000 after purchasing an additional 72,361 shares during the period. Freestone Capital Holdings LLC increased its stake in CNX Coal Resources by 23.6% in the second quarter. Freestone Capital Holdings LLC now owns 208,639 shares of the energy company’s stock worth $3,119,000 after purchasing an additional 39,868 shares during the period. Apollo Management Holdings L.P. increased its stake in CNX Coal Resources by 72.1% in the first quarter. Apollo Management Holdings L.P. now owns 243,047 shares of the energy company’s stock worth $4,120,000 after purchasing an additional 101,788 shares during the period. Finally, Mountain Lake Investment Management LLC increased its stake in CNX Coal Resources by 6.5% in the second 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 period. Institutional investors and hedge funds own 59.87% 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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