CNX Coal Resources LP (CNXC) Rating Increased to Buy at the Jefferies Group

CNX Coal Resources LP (CNXC) Rating Increased to Buy at the Jefferies Group

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.

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