CNX Coal Resources LP (NYSE:CNXC) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $22.00 price objective on the stock, up from their previous price objective of $21.00. Jefferies Group’s price objective would suggest a potential upside of 17.96% from the company’s current price.
Several other research firms have also recently commented on CNXC. FBR & Co set a $19.00 target price on CNX Coal Resources and gave the company an “outperform” rating in a research note on Thursday, October 13th. Zacks Investment Research upgraded CNX Coal Resources from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, July 13th. Seaport Global Securities started coverage on CNX Coal Resources in a research note on Thursday, November 3rd. They issued a “buy” rating and a $23.00 target price on the stock. Stifel Nicolaus boosted their target price on CNX Coal Resources from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. started coverage on CNX Coal Resources in a research note on Thursday, July 28th. They issued a “neutral” rating and a $14.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.00.
Shares of CNX Coal Resources (NYSE:CNXC) opened at 18.65 on Thursday. The company has a market capitalization of $433.22 million, a PE ratio of 23.67 and a beta of 1.86. The stock has a 50 day moving average price of $17.07 and a 200 day moving average price of $12.39. CNX Coal Resources has a 52-week low of $5.98 and a 52-week high of $22.30.
CNX Coal Resources (NYSE:CNXC) last released its earnings results on Monday, October 31st. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The firm earned $69.80 million during the quarter, compared to the consensus estimate of $59.28 million. CNX Coal Resources had a net margin of 8.26% and a return on equity of 11.01%. On average, analysts predict that CNX Coal Resources will post $0.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.512 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 10.98%. The ex-dividend date is Tuesday, November 8th. CNX Coal Resources’s dividend payout ratio is currently 256.25%.
Large investors have recently made changes to their positions in the company. Mountain Lake Investment Management LLC raised its position in CNX Coal Resources by 31.8% in the first quarter. Mountain Lake Investment Management LLC now owns 425,000 shares of the company’s stock worth $3,052,000 after buying an additional 102,500 shares during the last quarter. KCG Holdings Inc. acquired a new position in CNX Coal Resources during the third quarter worth $169,000. Morgan Stanley raised its position in CNX Coal Resources by 24.5% in the third quarter. Morgan Stanley now owns 87,872 shares of the company’s stock worth $1,362,000 after buying an additional 17,317 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in CNX Coal Resources during the third quarter worth $250,000. Finally, JPMorgan Chase & Co. raised its position in CNX Coal Resources by 1,265.8% in the third quarter. JPMorgan Chase & Co. now owns 138,874 shares of the company’s stock worth $2,153,000 after buying an additional 128,706 shares during the last quarter. Institutional investors own 60.60% of the company’s stock.
About CNX Coal Resources