BidaskClub upgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a sell rating to a hold rating in a research note released on Monday, July 31st.
A number of other brokerages have also recently issued reports on CNXC. Zacks Investment Research upgraded CNX Coal Resources from a strong sell rating to a hold rating in a report on Wednesday, July 19th. Jefferies Group LLC set a $20.00 target price on CNX Coal Resources and gave the stock a buy rating in a report on Monday, July 10th. Finally, Clarkson Capital reiterated a buy rating on shares of CNX Coal Resources in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $21.17.
Shares of CNX Coal Resources (NYSE CNXC) traded down 2.55% during midday trading on Monday, hitting $15.30. 38,721 shares of the stock traded hands. CNX Coal Resources has a 52 week low of $12.48 and a 52 week high of $22.30. The firm’s 50-day moving average is $16.00 and its 200 day moving average is $16.10. The company has a market capitalization of $356.93 million, a price-to-earnings ratio of 9.33 and a beta of 1.51.
CNX Coal Resources (NYSE:CNXC) last issued its earnings results on Monday, July 31st. The energy company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $82.47 million during the quarter, compared to the consensus estimate of $80.18 million. Equities analysts forecast that CNX Coal Resources will post $1.75 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th were paid a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a yield of 13.40%. The ex-dividend date was Thursday, August 3rd. CNX Coal Resources’s dividend payout ratio (DPR) is presently 134.87%.
A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of 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 during the period. Howard Hughes Medical Institute boosted its position in shares of 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 during the period. Apollo Management Holdings L.P. boosted its position in shares of CNX Coal Resources by 72.1% in the first quarter. Apollo Management Holdings L.P. now owns 243,047 shares of the energy company’s stock valued at $4,120,000 after buying an additional 101,788 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of 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 during the period. Finally, Freestone Capital Holdings LLC boosted its position in shares of 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 during the period. Institutional investors and hedge funds own 60.78% of the company’s stock.
About CNX Coal Resources
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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