Tudor Pickering Upgrades CNX Resources (NYSE:CNX) to Strong Sell

CNX Resources (NYSE:CNX) was upgraded by equities researchers at Tudor Pickering to a “strong sell” rating in a research note issued on Tuesday, Zacks.com reports.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Mizuho upped their price target on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Stephens reissued an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a research report on Monday, July 15th. Finally, Truist Financial upped their target price on shares of CNX Resources from $31.00 to $38.00 and gave the company a “buy” rating in a report on Monday. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, CNX Resources presently has an average rating of “Hold” and an average price target of $27.00.

CNX Resources Trading Up 1.2 %

CNX opened at $33.06 on Tuesday. The firm’s fifty day simple moving average is $27.69 and its 200 day simple moving average is $25.57. The stock has a market capitalization of $5.07 billion, a P/E ratio of 5.99 and a beta of 1.37. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. CNX Resources has a 12 month low of $19.07 and a 12 month high of $33.31.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter last year, the firm earned $0.29 EPS. As a group, research analysts anticipate that CNX Resources will post 1.44 EPS for the current fiscal year.

Insider Transactions at CNX Resources

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CNX Resources

Hedge funds have recently made changes to their positions in the stock. Pullen Investment Management LLC boosted its stake in CNX Resources by 2.3% during the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after acquiring an additional 623 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 666 shares during the period. Riverwater Partners LLC grew its stake in shares of CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock valued at $1,558,000 after buying an additional 676 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in CNX Resources by 3.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after buying an additional 941 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its stake in CNX Resources by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after buying an additional 945 shares during the period. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.