Zacks Investment Research upgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a strong sell rating to a hold rating in a research report released on Monday.

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. Jefferies Group LLC set a $20.00 target price on shares of CNX Coal Resources and gave the company a buy rating in a research note on Monday, July 10th. Clarkson Capital restated a buy rating on shares of CNX Coal Resources in a research note on Wednesday, July 12th. BidaskClub upgraded shares of CNX Coal Resources from a sell rating to a hold rating in a research note on Monday, July 31st. Stifel Nicolaus set a $23.00 target price on shares of CNX Coal Resources and gave the company a buy rating in a research note on Wednesday, August 9th. Finally, TheStreet upgraded shares of CNX Coal Resources from a d rating to a c rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $21.60.

CNX Coal Resources (NYSE:CNXC) traded up 0.67% on Monday, reaching $15.00. 2,550 shares of the company’s stock were exchanged. The stock has a market capitalization of $349.94 million, a PE ratio of 9.15 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 of $15.02 and a 200 day moving average of $15.71.

CNX Coal Resources (NYSE:CNXC) last posted its quarterly earnings results on Monday, July 31st. The energy company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $82.47 million for the quarter, compared to analyst estimates of $80.18 million. Equities analysts predict that CNX Coal Resources will post $1.67 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of the company. Mountain Lake Investment Management LLC boosted its stake in shares of CNX Coal Resources by 6.5% in 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 purchasing an additional 30,400 shares in the last quarter. Arrow Investment Advisors LLC acquired a new stake in shares of CNX Coal Resources in the 2nd quarter valued at $676,000. Freestone Capital Holdings LLC boosted its stake in shares of CNX Coal Resources by 23.6% in the 2nd quarter. Freestone Capital Holdings LLC now owns 208,639 shares of the energy company’s stock valued at $3,119,000 after purchasing an additional 39,868 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of CNX Coal Resources by 94.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 149,193 shares of the energy company’s stock valued at $2,529,000 after purchasing an additional 72,361 shares in the last quarter. Institutional investors own 59.87% 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.

Analyst Recommendations for CNX Coal Resources (NYSE:CNXC)

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