CNX Coal Resources LP (CNXC) Reaches New 52-Week Low at $14.34
CNX Coal Resources LP (NYSE:CNXC) shares reached a new 52-week low during trading on Friday . The company traded as low as $14.34 and last traded at $0.00, with a volume of shares traded.
A number of research firms have commented on CNXC. Stifel Nicolaus restated a “buy” rating and set a $23.00 price target on shares of CNX Coal Resources in a research note on Tuesday, September 12th. BidaskClub upgraded CNX Coal Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Citigroup Inc. decreased their price target on CNX Coal Resources from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Clarkson Capital restated a “buy” rating on shares of CNX Coal Resources in a research note on Wednesday, July 12th. Finally, Zacks Investment Research upgraded CNX Coal Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $20.20.
The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $390.60, a P/E ratio of 10.36 and a beta of 1.45.
CNX Coal Resources (NYSE:CNXC) last announced its quarterly earnings data on Monday, October 30th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.35). The company had revenue of $78.26 million during the quarter, compared to analyst estimates of $76.46 million. CNX Coal Resources had a net margin of 9.94% and a return on equity of 21.14%. analysts forecast that CNX Coal Resources LP will post 1.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be paid a $0.5125 dividend. This represents a $2.05 annualized dividend and a dividend yield of 14.34%. The ex-dividend date of this dividend is Tuesday, November 7th. CNX Coal Resources’s payout ratio is currently 148.55%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Arrow Investment Advisors LLC acquired a new stake in shares of CNX Coal Resources in the second quarter valued at $676,000. Mountain Lake Investment Management LLC raised its stake in shares of 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 acquiring an additional 30,400 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in shares of 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 acquiring an additional 39,868 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 72,361 shares in the last quarter. Institutional investors and hedge funds own 59.82% 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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