Citigroup Inc. Lowers CNX Coal Resources LP (CNXC) Price Target to $16.00

CNX Coal Resources LP (NYSE:CNXC) had its price target decreased by Citigroup Inc. from $18.00 to $16.00 in a research report released on Tuesday, October 17th. Citigroup Inc. currently has a neutral rating on the energy company’s stock.

CNXC has been the topic of several other research reports. Stifel Nicolaus reissued a buy rating and issued a $23.00 price target on shares of CNX Coal Resources in a report on Tuesday, September 12th. BidaskClub raised CNX Coal Resources from a sell rating to a hold rating in a report on Wednesday, October 11th. Clarkson Capital reissued a buy rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. Zacks Investment Research raised CNX Coal Resources from a strong sell rating to a hold rating in a research note on Monday, October 16th. Finally, Jefferies Group LLC set a $20.00 target price on CNX Coal Resources and gave the company a buy rating in a research note on Friday, August 18th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. CNX Coal Resources presently has a consensus rating of Buy and a consensus target price of $20.67.

Shares of CNX Coal Resources (NYSE CNXC) traded up 0.993% during midday trading on Tuesday, reaching $14.846. 15,902 shares of the company traded hands. CNX Coal Resources has a 1-year low of $14.50 and a 1-year high of $22.30. The stock has a 50 day moving average price of $14.99 and a 200 day moving average price of $15.63. The firm has a market capitalization of $346.34 million, a PE ratio of 9.058 and a beta of 1.48.

CNX Coal Resources (NYSE:CNXC) last released its earnings results on Monday, July 31st. The energy company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.11). The firm had revenue of $82.47 million for the quarter, compared to the consensus estimate of $80.18 million. CNX Coal Resources had a return on equity of 22.89% and a net margin of 11.26%. Analysts expect that CNX Coal Resources will post $1.60 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th will be issued a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 13.95%. CNX Coal Resources’s payout ratio is 134.87%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mountain Lake Investment Management LLC boosted its position in shares of 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 buying an additional 30,400 shares during the period. Freestone Capital Holdings LLC boosted its position in CNX Coal Resources by 23.6% during the second 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. Goldman Sachs Group Inc. boosted its position in CNX Coal Resources by 94.2% during the first 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. Finally, Arrow Investment Advisors LLC acquired a new stake in CNX Coal Resources during the second quarter valued at $676,000. Institutional investors and hedge funds own 59.82% 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.

Analyst Recommendations for CNX Coal Resources (NYSE:CNXC)

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