CNX Coal Resources LP (CNXC) Sets New 1-Year Low at $14.34

CNX Coal Resources LP (NYSE:CNXC)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $14.34 and last traded at $0.00, with a volume of shares changing hands.

A number of equities analysts recently issued reports on CNXC shares. Zacks Investment Research upgraded CNX Coal Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub cut CNX Coal Resources from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. TheStreet upgraded CNX Coal Resources from a “d” rating to a “c” rating in a report on Wednesday, August 9th. Jefferies Group LLC set a $20.00 target price on CNX Coal Resources and gave the stock a “buy” rating in a report on Monday, July 10th. Finally, FBR & Co set a $23.00 target price on CNX Coal Resources and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. CNX Coal Resources presently has an average rating of “Buy” and an average price target of $20.67.

The company has a market cap of $396.07 million, a price-to-earnings ratio of 10.51 and a beta of 1.45. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 1.26.

CNX Coal Resources (NYSE:CNXC) last issued its earnings results on Monday, October 30th. The energy company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.35). CNX Coal Resources had a return on equity of 21.14% and a net margin of 9.94%. The firm had revenue of $78.26 million during the quarter, compared to analysts’ expectations of $76.46 million. analysts anticipate that CNX Coal Resources LP will post 1.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be issued 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 dividend payout ratio is 148.55%.

Hedge funds have recently modified their holdings of the business. Arrow Investment Advisors LLC purchased a new stake in shares of CNX Coal Resources in the 2nd quarter worth $676,000. Goldman Sachs Group Inc. lifted its stake in shares of CNX Coal Resources by 94.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 149,193 shares of the energy company’s stock worth $2,529,000 after purchasing an additional 72,361 shares during the last quarter. Freestone Capital Holdings LLC lifted its stake in shares of CNX Coal Resources by 23.6% during the 2nd quarter. Freestone Capital Holdings LLC now owns 208,639 shares of the energy company’s stock worth $3,119,000 after purchasing an additional 39,868 shares during the last quarter. Finally, Mountain Lake Investment Management LLC lifted its stake in shares of CNX Coal Resources by 6.5% during the 2nd quarter. Mountain Lake Investment Management LLC now owns 500,000 shares of the energy company’s stock worth $7,475,000 after purchasing an additional 30,400 shares during the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.

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About CNX Coal Resources

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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