CNX Resources (NYSE:CNX) Price Target Raised to $32.00

CNX Resources (NYSE:CNX) had its target price increased by investment analysts at Mizuho from $30.00 to $32.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective would indicate a potential upside of 15.98% from the stock’s current price.

CNX has been the topic of several other research reports. Scotiabank upped their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Stephens reissued an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Truist Financial raised their price objective on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $26.13.

CNX Resources Stock Performance

Shares of NYSE:CNX traded up $0.25 during midday trading on Monday, hitting $27.59. The company’s stock had a trading volume of 109,060 shares, compared to its average volume of 2,715,343. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $28.23. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 5.00 and a beta of 1.37. The stock’s 50 day simple moving average is $26.35 and its 200 day simple moving average is $24.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share 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 analysts’ expectations 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 posted $0.29 earnings per share. As a group, research analysts anticipate that CNX Resources will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock worth $29,107,000 after acquiring an additional 9,356 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of CNX Resources by 17.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 22,427 shares of the oil and gas producer’s stock worth $449,000 after buying an additional 3,261 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of CNX Resources in the 4th quarter valued at $798,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in CNX Resources in the fourth quarter valued at $444,000. Finally, Quest Partners LLC acquired a new stake in shares of CNX Resources in the 4th quarter valued at about $1,691,000. 95.16% of the stock is 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.