CNX Resources (NYSE:CNX) Rating Lowered to Sell at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. cut shares of CNX Resources (NYSE:CNX) from a hold rating to a sell rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

Other analysts have also recently issued research reports about the stock. Mizuho raised their target price on shares of CNX Resources from $30.00 to $32.00 and gave the company a neutral rating in a report on Monday, September 16th. StockNews.com cut shares of CNX Resources from a hold rating to a sell rating in a research note on Saturday, August 3rd. Truist Financial boosted their price objective on shares of CNX Resources from $31.00 to $38.00 and gave the stock a buy rating in a research report on Monday, September 30th. Scotiabank increased their price objective on CNX Resources from $25.00 to $27.00 and gave the company a sector underperform rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on CNX Resources from $26.00 to $27.00 and gave the company a neutral rating in a report on Thursday, September 12th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $27.22.

CNX Resources Trading Up 0.2 %

Shares of CNX Resources stock opened at $34.09 on Tuesday. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 6.18 and a beta of 1.38. 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 $34.35. The firm’s 50 day simple moving average is $27.87 and its two-hundred day simple moving average is $25.62.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, topping the consensus estimate of $0.27 by $0.09. The company had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the previous year, the firm earned $0.29 EPS. Analysts predict that CNX Resources will post 1.44 EPS for the current year.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC increased its position in shares of CNX Resources by 12.4% during the fourth quarter. Advisory Services Network LLC now owns 13,780 shares of the oil and gas producer’s stock worth $276,000 after buying an additional 1,518 shares during the period. TFO Wealth Partners LLC raised its position in CNX Resources by 64,084.6% in the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 8,331 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in CNX Resources by 116.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 52,834 shares of the oil and gas producer’s stock valued at $1,057,000 after purchasing an additional 28,418 shares during the last quarter. Rafferty Asset Management LLC lifted its position in shares of CNX Resources by 7.1% during the 4th quarter. Rafferty Asset Management LLC now owns 351,934 shares of the oil and gas producer’s stock valued at $7,039,000 after buying an additional 23,195 shares during the last quarter. Finally, Parkwood LLC boosted its position in CNX Resources by 11.2% during the fourth quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock worth $9,809,000 after purchasing an additional 49,278 shares during the period. Institutional investors own 95.16% of the company’s stock.

About CNX Resources

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.