CNX Coal Resources LP (CNXC) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 17 from a previous price target of $15 . Stifel advised their investors in a research report released on Jul 28, 2016.
On the company’s financial health, CNX Coal Resources LP reported $0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.19. The company had revenue of $47.80 million for the quarter, compared to analysts expectations of $51.93 million. The company’s revenue was down -38.4 % compared to the same quarter last year.
CNX Coal Resources LP closed down -0.15 points or -1.18% at $12.52 with 89,950 shares getting traded on Thursday. Post opening the session at $12.76, the shares hit an intraday low of $12.44 and an intraday high of $13.042 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 8, 2015, James A Brock (director officer ) purchased 6,660 shares at $15.00 per share price. According to the SEC, on Jul 8, 2015, Lorraine L. Ritter (officer ) purchased 650 shares at $15.00 per share price. On Jul 8, 2015, Martha A Wiegand (officer ) purchased 500 shares at $15.00 per share price, according to the Form-4 filing with the securities and exchange commission.
CNX Coal Resources LP is a producer of thermal coal. The Company is formed by CONSOL Energy Inc. (CONSOL Energy) to manage and develop all of its thermal coal operations in Pennsylvania. Its initial assets include around 20% undivided interest in and operational control over CONSOL Energy’s Pennsylvania mining complex which consists of around three underground mines and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States. Its Pennsylvania mining complex which includes the Bailey mine the Enlow Fork mine and the Harvey mine has coal reserves. The Company mines its reserves from the Pittsburgh No. 8 Coal Seam which is a contiguous formation of uniform thermal coal. The Pennsylvania mining complex includes around 785.6 million tons of coal reserves with an average gross heat content of approximately 13000 British thermal units per pound and an average sulfur content of around 2.38%.