CNX Resources Co. (NYSE:CNX) Receives Consensus Rating of “Reduce” from Analysts

Shares of CNX Resources Co. (NYSE:CNX) have received a consensus rating of “Reduce” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $26.13.

Several research analysts have recently weighed in on CNX shares. Truist Financial increased their price objective on shares of CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Stephens restated an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a report on Monday, July 15th. Finally, Scotiabank increased their price target on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNX Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of CNX Resources by 0.6% in the fourth 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 buying an additional 9,356 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of CNX Resources by 17.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 22,427 shares of the oil and gas producer’s stock worth $449,000 after purchasing an additional 3,261 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in CNX Resources in the fourth quarter worth about $798,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in CNX Resources in the fourth quarter worth about $444,000. Finally, Quest Partners LLC bought a new stake in CNX Resources in the fourth quarter valued at about $1,691,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Down 0.2 %

CNX stock opened at $31.81 on Tuesday. The company has a 50 day moving average price of $26.86 and a two-hundred day moving average price of $25.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The stock has a market capitalization of $4.87 billion, a P/E ratio of 5.76 and a beta of 1.37. CNX Resources has a one year low of $19.07 and a one year high of $32.26.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The firm had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. During the same period in the prior year, the firm posted $0.29 earnings per share. As a group, sell-side analysts expect that CNX Resources will post 1.47 EPS for the current year.

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.