CNX Coal Resources LP (CNXC) Receives Average Recommendation of “Buy” from Brokerages
Shares of CNX Coal Resources LP (NYSE:CNXC) have earned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.20.
CNXC has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $23.00 price target on shares of CNX Coal Resources in a research note on Friday, October 13th. ValuEngine cut CNX Coal Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $20.00 price target on CNX Coal Resources and gave the stock a “buy” rating in a research note on Friday, August 18th. FBR & Co set a $23.00 price target on CNX Coal Resources and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, B. Riley reaffirmed a “buy” rating on shares of CNX Coal Resources in a research note on Wednesday, November 1st.
A number of hedge funds have recently modified their holdings of CNXC. Mountain Lake Investment Management LLC grew its stake 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 acquiring an additional 30,400 shares during the last quarter. Arrow Investment Advisors LLC purchased a new stake in shares of CNX Coal Resources in the second quarter worth $676,000. Freestone Capital Holdings LLC grew its stake 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 worth $3,119,000 after acquiring an additional 39,868 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake 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 worth $2,529,000 after acquiring an additional 72,361 shares during the last quarter. 25.54% of the stock is currently owned by institutional investors.
CNX Coal Resources (NYSE:CNXC) traded down $0.10 on Monday, hitting $14.25. The stock had a trading volume of 9,167 shares, compared to its average volume of 62,343. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 1.26. CNX Coal Resources has a 52-week low of $12.56 and a 52-week high of $20.40. The stock has a market capitalization of $391.97, a PE ratio of 10.40 and a beta of 1.45.
CNX Coal Resources (NYSE:CNXC) last posted its earnings results on Monday, October 30th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.35). The business had revenue of $78.26 million for the quarter, compared to analysts’ expectations of $76.46 million. CNX Coal Resources had a net margin of 9.94% and a return on equity of 21.14%. analysts forecast that CNX Coal Resources will post 1.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th were paid a $0.5125 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $2.05 annualized dividend and a yield of 14.39%. CNX Coal Resources’s payout ratio is 148.55%.
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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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