CNX Coal Resources LP (CNXC) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

CNX Coal Resources LP (NYSE:CNXC) issued its earnings results on Monday, July 31st. The energy company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.11, Bloomberg Earnings reports. The company 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%.

Shares of CNX Coal Resources (NYSE:CNXC) opened at 15.30 on Friday. CNX Coal Resources has a 1-year low of $12.48 and a 1-year high of $22.30. The stock has a market capitalization of $356.93 million, a price-to-earnings ratio of 9.33 and a beta of 1.51. The company has a 50-day moving average of $16.00 and a 200-day moving average of $16.10.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were paid a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 13.40%. The ex-dividend date of this dividend was Thursday, August 3rd. CNX Coal Resources’s dividend payout ratio (DPR) is presently 134.87%.

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A number of analysts have recently issued reports on CNXC shares. Zacks Investment Research raised shares of CNX Coal Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 21st. Jefferies Group LLC reissued a “buy” rating and set a $20.00 target price on shares of CNX Coal Resources in a research note on Thursday, June 8th. Clarkson Capital reissued a “buy” rating on shares of CNX Coal Resources in a research note on Wednesday, July 12th. BidaskClub raised shares of CNX Coal Resources from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus set a $23.00 price objective on shares of CNX Coal Resources and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.17.

A number of institutional investors have recently added to or reduced their stakes in CNXC. Howard Hughes Medical Institute increased its position in CNX Coal Resources by 9.3% in the first quarter. Howard Hughes Medical Institute now owns 41,200 shares of the energy company’s stock valued at $698,000 after buying an additional 3,521 shares in the last quarter. Arrow Investment Advisors LLC purchased a new position in CNX Coal Resources during the second quarter valued at $676,000. Renaissance Technologies LLC increased its position in CNX Coal Resources by 81.9% in the fourth quarter. Renaissance Technologies LLC now owns 116,965 shares of the energy company’s stock valued at $2,135,000 after buying an additional 52,665 shares in the last quarter. Goldman Sachs Group Inc. increased its position 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 valued at $2,529,000 after buying an additional 72,361 shares in the last quarter. Finally, Freestone Capital Holdings LLC increased its position 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 valued at $3,119,000 after buying an additional 39,868 shares in the last quarter. 60.78% of the stock is owned by institutional investors.

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.

Earnings History for CNX Coal Resources (NYSE:CNXC)

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