CNX Coal Resources LP (CNXC) Lifted to Hold at Zacks Investment Research

CNX Coal Resources LP (NYSE:CNXC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, October 16th.

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. “

CNXC has been the topic of several other research reports. ValuEngine downgraded shares of CNX Coal Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $23.00 price target on shares of CNX Coal Resources in a research report on Friday, October 13th. BidaskClub raised shares of CNX Coal Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. TheStreet raised shares of CNX Coal Resources from a “d” rating to a “c” rating in a research report on Wednesday, August 9th. Finally, Clarkson Capital reissued a “buy” rating on shares of CNX Coal Resources in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.67.

Shares of CNX Coal Resources (NYSE:CNXC) opened at 14.70 on Monday. The company has a market cap of $342.94 million, a price-to-earnings ratio of 8.97 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 firm has a 50 day moving average price of $14.99 and a 200-day moving average price of $15.63.

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

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mountain Lake Investment Management LLC boosted its stake 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 acquiring an additional 30,400 shares during the last quarter. Arrow Investment Advisors LLC bought a new position in CNX Coal Resources during the 2nd quarter valued at $676,000. Freestone Capital Holdings LLC boosted its stake 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 acquiring an additional 39,868 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake 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 acquiring an additional 72,361 shares during the last quarter. Hedge funds and other institutional investors 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.

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