CONSOL Coal Resources (CCR) Upgraded by Zacks Investment Research to Buy

CONSOL Coal Resources (NYSE:CCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $19.00 price target on the energy company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.59% from the stock’s current price.

According to Zacks, “CONSOL Coal Resources LP manages and develops active thermal coal operations. The company engages in underground mines and related infrastructure that produce high- BTU bituminuous thermal coal. It primarily sells its coal to electric utilities in the United States. CONSOL Coal Resources LP, formerly known as CNX Coal Resrcs, is based in Canonsburg, Pennsylvania. “

A number of other equities research analysts have also recently commented on the company. ValuEngine cut CONSOL Coal Resources from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. Citigroup raised their price objective on CONSOL Coal Resources from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 2nd. Finally, Clarkson Capital cut CONSOL Coal Resources from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

CONSOL Coal Resources stock traded up $0.04 during mid-day trading on Thursday, reaching $17.18. The stock had a trading volume of 34,700 shares, compared to its average volume of 32,571. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.44 and a current ratio of 0.63. CONSOL Coal Resources has a fifty-two week low of $13.30 and a fifty-two week high of $21.13. The stock has a market capitalization of $471.73 million, a PE ratio of 11.77 and a beta of 0.96.

CONSOL Coal Resources (NYSE:CCR) last announced its quarterly earnings data on Thursday, November 1st. The energy company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). CONSOL Coal Resources had a net margin of 17.42% and a return on equity of 28.19%. The firm had revenue of $75.31 million during the quarter, compared to analyst estimates of $78.65 million. Research analysts forecast that CONSOL Coal Resources will post 2.25 EPS for the current year.

In related news, Director Consol Energy Inc. bought 9,341 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were bought at an average price of $18.98 per share, for a total transaction of $177,292.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 160,908 shares of company stock worth $2,941,373 in the last 90 days.

A hedge fund recently bought a new stake in CONSOL Coal Resources stock. Renaissance Technologies LLC bought a new stake in CONSOL Coal Resources LP (NYSE:CCR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,500 shares of the energy company’s stock, valued at approximately $906,000. Renaissance Technologies LLC owned approximately 0.18% of CONSOL Coal Resources as of its most recent SEC filing. Institutional investors own 23.56% of the company’s stock.

About CONSOL Coal Resources

CONSOL Coal Resources LP produces and sells high-Btu thermal coal in the Northern Appalachian Basin and the eastern United States. It owns a 25% undivided interest in the Pennsylvania mining complex, which consists of three underground mines and related infrastructure that produce high-Btu bituminous thermal coal located primarily in southwestern Pennsylvania.

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