CNX Resources (NYSE:CNX) Given New $23.00 Price Target at Piper Sandler

CNX Resources (NYSE:CNX) had its price objective lifted by Piper Sandler from $20.00 to $23.00 in a report released on Friday,Benzinga reports. They currently have an underweight rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and upped their price target for the company from $31.00 to $37.00 in a research note on Thursday. Tudor Pickering raised CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Monday, October 14th. BMO Capital Markets raised their target price on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Seven research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $30.00.

CNX Resources Stock Down 3.6 %

CNX stock opened at $36.82 on Friday. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.85 and a beta of 1.43. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93. The business has a 50 day moving average price of $36.83 and a two-hundred day moving average price of $29.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter last year, the company posted $0.35 earnings per share. Analysts anticipate that CNX Resources will post 1.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 22.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by insiders.

Institutional Trading of CNX Resources

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 666 shares in the last quarter. Blue Trust Inc. grew its stake in CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,131 shares during the period. CWM LLC boosted its holdings in shares of CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 935 shares during the last quarter. Innealta Capital LLC purchased a new stake in CNX Resources during the second quarter worth about $131,000. Finally, Atomi Financial Group Inc. bought a new position in shares of CNX Resources during the 3rd quarter valued at approximately $202,000. 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.