Zacks Investment Research Upgrades CONSOL Coal Resources (CCR) to Buy

CONSOL Coal Resources (NYSE:CCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $19.00 target price on the energy company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.71% from the stock’s previous close.

According to Zacks, “CONSOL Coal Resources LP manages and develops active thermal coal operations. The company engages in underground mines and related infrastructure that produce high- BTU bituminuous thermal coal. It primarily sells its coal to electric utilities in the United States. CONSOL Coal Resources LP, formerly known as CNX Coal Resrcs, is based in Canonsburg, Pennsylvania. “

A number of other equities research analysts also recently weighed in on the stock. ValuEngine raised shares of CONSOL Coal Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Citigroup raised their target price on shares of CONSOL Coal Resources from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 2nd. Finally, Clarkson Capital downgraded shares of CONSOL Coal Resources from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. CONSOL Coal Resources currently has an average rating of “Hold” and an average price target of $20.00.

Shares of CONSOL Coal Resources stock opened at $17.64 on Thursday. CONSOL Coal Resources has a 12-month low of $13.40 and a 12-month high of $21.13. The stock has a market capitalization of $472.83 million, a PE ratio of 7.60 and a beta of 0.96. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 0.78.

CONSOL Coal Resources (NYSE:CCR) last announced its quarterly earnings results on Thursday, November 1st. The energy company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). CONSOL Coal Resources had a return on equity of 28.19% and a net margin of 17.42%. The firm had revenue of $75.31 million during the quarter, compared to analysts’ expectations of $78.65 million. On average, analysts anticipate that CONSOL Coal Resources will post 2.25 earnings per share for the current year.

In related news, Director Consol Energy Inc. bought 13,890 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were acquired at an average cost of $17.48 per share, with a total value of $242,797.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased 160,908 shares of company stock worth $2,941,373 over the last ninety days.

A hedge fund recently bought a new stake in CONSOL Coal Resources stock. Renaissance Technologies LLC bought a new stake in CONSOL Coal Resources LP (NYSE:CCR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,500 shares of the energy company’s stock, valued at approximately $906,000. Renaissance Technologies LLC owned approximately 0.18% of CONSOL Coal Resources at the end of the most recent reporting period. 23.56% of the stock is currently owned by institutional investors.

About CONSOL Coal Resources

CONSOL Coal Resources LP produces and sells high-Btu thermal coal in the Northern Appalachian Basin and the eastern United States. It owns a 25% undivided interest in the Pennsylvania mining complex, which consists of three underground mines and related infrastructure that produce high-Btu bituminous thermal coal located primarily in southwestern Pennsylvania.

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