CNX Resources (NYSE:CNX) Upgraded at Stephens

CNX Resources (NYSE:CNX) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday,Finviz reports. The brokerage presently has a $48.00 target price on the oil and gas producer’s stock, up from their prior target price of $35.00. Stephens’ price target would indicate a potential upside of 56.42% from the company’s previous close.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, March 13th. Piper Sandler lowered their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. TD Cowen started coverage on CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price objective for the company. Finally, Morgan Stanley started coverage on CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price on the stock. Nine research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.38.

CNX Resources Stock Up 0.6 %

Shares of NYSE CNX opened at $30.69 on Tuesday. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -45.13, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources has a 12 month low of $21.07 and a 12 month high of $41.93. The stock has a 50-day moving average price of $29.61 and a two-hundred day moving average price of $33.01.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, analysts forecast that CNX Resources will post 2.18 earnings per share for the current fiscal year.

Insider Transactions at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CNX Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 526 shares during the last quarter. Xponance Inc. raised its position in CNX Resources by 2.9% in the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock valued at $766,000 after buying an additional 588 shares during the last quarter. Principal Securities Inc. raised its position in CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 691 shares during the last quarter. SeaBridge Investment Advisors LLC raised its position in CNX Resources by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock valued at $3,311,000 after buying an additional 759 shares during the last quarter. Finally, Pullen Investment Management LLC raised its position in CNX Resources by 2.7% in the 4th quarter. Pullen Investment Management LLC now owns 32,151 shares of the oil and gas producer’s stock valued at $1,179,000 after buying an additional 841 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.