CNX Coal Resources LP (CNXC) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of CNX Coal Resources LP (NYSE:CNXC) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Other research analysts also recently issued research reports about the company. Clarkson Capital reaffirmed a buy rating on shares of CNX Coal Resources in a research note on Wednesday, July 12th. Jefferies Group LLC set a $20.00 target price on CNX Coal Resources and gave the stock a buy rating in a research report on Monday, July 10th. Stifel Nicolaus set a $23.00 target price on CNX Coal Resources and gave the stock a buy rating in a research report on Wednesday, August 9th. ValuEngine cut CNX Coal Resources from a strong-buy rating to a buy rating in a research report on Friday, September 1st. Finally, TheStreet upgraded CNX Coal Resources from a d rating to a c rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $21.60.

CNX Coal Resources (CNXC) traded down 0.99% on Wednesday, reaching $15.05. The company’s stock had a trading volume of 15,850 shares. The stock has a 50-day moving average of $14.93 and a 200-day moving average of $14.93. CNX Coal Resources has a one year low of $14.50 and a one year high of $22.30. The stock has a market cap of $351.10 million, a P/E ratio of 9.18 and a beta of 1.48.

CNX Coal Resources (NYSE:CNXC) last posted its quarterly earnings data on Monday, July 31st. The energy company reported $0.40 EPS for the quarter, missing the 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 company had revenue of $82.47 million during the quarter, compared to the consensus estimate of $80.18 million. On average, analysts predict that CNX Coal Resources will post $1.67 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in CNXC. Goldman Sachs Group Inc. grew its position in shares of CNX Coal Resources by 94.2% during the first quarter. Goldman Sachs Group Inc. now owns 149,193 shares of the energy company’s stock worth $2,529,000 after purchasing an additional 72,361 shares in the last quarter. Arrow Investment Advisors LLC purchased a new stake in shares of CNX Coal Resources during the second quarter worth about $676,000. Freestone Capital Holdings LLC grew its position in shares of CNX Coal Resources by 23.6% during the second quarter. Freestone Capital Holdings LLC now owns 208,639 shares of the energy company’s stock worth $3,119,000 after purchasing an additional 39,868 shares in the last quarter. Finally, Mountain Lake Investment Management LLC grew its position in shares of CNX Coal Resources by 6.5% during the second quarter. Mountain Lake Investment Management LLC now owns 500,000 shares of the energy company’s stock worth $7,475,000 after purchasing an additional 30,400 shares in the last quarter. Hedge funds and other institutional investors own 59.87% 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.

Analyst Recommendations for CNX Coal Resources (NYSE:CNXC)

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