CNX Coal Resources LP (CNXC) Given New $16.00 Price Target at Citigroup Inc.
CNX Coal Resources LP (NYSE:CNXC) had its price objective decreased by Citigroup Inc. from $18.00 to $16.00 in a research report report published on Tuesday. Citigroup Inc. currently has a neutral rating on the energy company’s stock.
Several other research analysts also recently weighed in on CNXC. Zacks Investment Research downgraded CNX Coal Resources from a hold rating to a strong sell rating in a research note on Tuesday, July 4th. Jefferies Group LLC set a $20.00 price objective on CNX Coal Resources and gave the stock a buy rating in a report on Monday, July 10th. Clarkson Capital reaffirmed a buy rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. BidaskClub raised CNX Coal Resources from a sell rating to a hold rating in a report on Monday, July 31st. Finally, Stifel Nicolaus set a $23.00 price objective on CNX Coal Resources and gave the stock a buy rating in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $20.67.
Shares of CNX Coal Resources (NYSE:CNXC) traded down 0.33% during midday trading on Tuesday, reaching $15.05. 8,761 shares of the company were exchanged. The stock has a market capitalization of $351.10 million, a P/E ratio of 9.18 and a beta of 1.48. CNX Coal Resources has a 12-month low of $14.50 and a 12-month high of $22.30. The company has a 50 day moving average price of $15.02 and a 200-day moving average price of $15.71.
CNX Coal Resources (NYSE:CNXC) last posted 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 return on equity of 22.89% and a net margin of 11.26%. The business had revenue of $82.47 million during the quarter, compared to the consensus estimate of $80.18 million. On average, analysts forecast that CNX Coal Resources will post $1.63 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Arrow Investment Advisors LLC purchased a new stake in CNX Coal Resources during the 2nd quarter valued at $676,000. Mountain Lake Investment Management LLC raised its holdings in 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 valued at $7,475,000 after buying an additional 30,400 shares during the period. Freestone Capital Holdings LLC raised its holdings in CNX Coal Resources by 23.6% during 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 period. Finally, Goldman Sachs Group Inc. raised its holdings in CNX Coal Resources by 94.2% during 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 period. Institutional investors own 59.87% of the company’s stock.
CNX Coal Resources Company Profile
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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