Shares of CNX Coal Resources LP (NYSE:CNXC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.84 and last traded at $13.55, with a volume of 59400 shares traded. The stock had previously closed at $13.40.
Several analysts recently weighed in on CNXC shares. B. Riley reaffirmed a “buy” rating on shares of CNX Coal Resources in a report on Wednesday, November 1st. BidaskClub cut shares of CNX Coal Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Stifel Nicolaus set a $23.00 target price on shares of CNX Coal Resources and gave the company a “buy” rating in a report on Wednesday, August 9th. Jefferies Group LLC set a $20.00 target price on shares of CNX Coal Resources and gave the company a “buy” rating in a report on Friday, August 18th. Finally, TheStreet raised shares of CNX Coal Resources from a “d” rating to a “c” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.20.
The stock has a market cap of $370.12 and a P/E ratio of 9.71. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26.
CNX Coal Resources (NYSE:CNXC) last announced its quarterly earnings results on Monday, October 30th. The energy company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.35). The company had revenue of $78.26 million during 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%. sell-side analysts forecast that CNX Coal Resources LP will post 1.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be paid a $0.5125 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $2.05 annualized dividend and a yield of 15.13%. CNX Coal Resources’s dividend payout ratio is currently 148.55%.
A number of institutional investors have recently made changes to their positions in the business. Mountain Lake Investment Management LLC increased its stake in 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 valued at $7,475,000 after purchasing an additional 30,400 shares during the last quarter. Freestone Capital Holdings LLC increased its stake 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 purchasing an additional 39,868 shares during the last quarter. Goldman Sachs Group Inc. increased its stake 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 purchasing an additional 72,361 shares during the last quarter. Finally, Arrow Investment Advisors LLC purchased a new position in CNX Coal Resources in the second quarter valued at approximately $676,000. Institutional investors own 25.67% of the company’s stock.
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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.
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