Zacks Investment Research Downgrades CNX Coal Resources LP (NYSE:CNXC) to Strong Sell

CNX Coal Resources LP (NYSE:CNXC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, November 2nd.

According to Zacks, “CNX Coal Resources LP is engaged in production of thermal coal. It manages and develops CONSOL Energy’s active thermal coal operations primarily in Pennsylvania. The company sells its coal to electric utilities. CNX Coal Resources LP is based in CANONSBURG, United States. “

Other equities analysts have also recently issued reports about the stock. BidaskClub upgraded shares of CNX Coal Resources from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Clarkson Capital reiterated a “buy” rating on shares of CNX Coal Resources in a research report on Wednesday, July 12th. TheStreet upgraded shares of CNX Coal Resources from a “d” rating to a “c” rating in a research report on Wednesday, August 9th. Stifel Nicolaus set a $23.00 target price on shares of CNX Coal Resources and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC set a $20.00 target price on shares of CNX Coal Resources and gave the company a “buy” rating in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. CNX Coal Resources currently has an average rating of “Buy” and a consensus price target of $20.20.

Shares of CNX Coal Resources (NYSE:CNXC) opened at $14.40 on Thursday. The company has a market cap of $391.97, a price-to-earnings ratio of 10.40 and a beta of 1.45. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 1.26. CNX Coal Resources has a twelve month low of $12.56 and a twelve month high of $20.40.

CNX Coal Resources (NYSE:CNXC) last released its quarterly earnings data on Monday, October 30th. The energy company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.35). CNX Coal Resources had a net margin of 9.94% and a return on equity of 21.14%. The business had revenue of $78.26 million during the quarter, compared to analysts’ expectations of $76.46 million. sell-side analysts predict that CNX Coal Resources will post 1.41 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrow Investment Advisors LLC purchased a new position in shares of CNX Coal Resources in the second quarter valued at approximately $676,000. Goldman Sachs Group Inc. lifted 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 worth $2,529,000 after acquiring an additional 72,361 shares during the last quarter. Freestone Capital Holdings LLC lifted 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 worth $3,119,000 after acquiring an additional 39,868 shares during the last quarter. Finally, Mountain Lake Investment Management LLC lifted 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 worth $7,475,000 after acquiring an additional 30,400 shares during the last quarter. 25.54% of the stock is owned by institutional investors and hedge funds.

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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