Analysts Set CNX Resources Co. (NYSE:CNX) Price Target at $27.22

CNX Resources Co. (NYSE:CNX) has been assigned a consensus rating of “Reduce” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.10.

Several equities research analysts have recently weighed in on CNX shares. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Mizuho lifted their target price on CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday. Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $22.00 to $20.00 in a report on Thursday, August 15th. 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 report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mizuho Markets Americas LLC acquired a new stake in CNX Resources in the 2nd quarter valued at about $97,200,000. American Century Companies Inc. grew its position in shares of CNX Resources by 12.0% in the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock valued at $89,890,000 after purchasing an additional 397,729 shares during the last quarter. LSV Asset Management increased its stake in shares of CNX Resources by 1.4% during the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock worth $43,276,000 after purchasing an additional 23,800 shares in the last quarter. Tributary Capital Management LLC increased its stake in shares of CNX Resources by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock worth $21,917,000 after purchasing an additional 2,535 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of CNX Resources by 11.2% during the 1st quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer’s stock worth $15,643,000 after purchasing an additional 66,528 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Up 3.7 %

CNX opened at $35.36 on Friday. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 6.40 and a beta of 1.38. CNX Resources has a 52 week low of $19.07 and a 52 week high of $36.96. The business’s 50 day moving average is $29.55 and its two-hundred day moving average is $26.40. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last released its quarterly 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 net margin of 26.64% and a return on equity of 7.51%. The firm had revenue of $321.44 million during the quarter, compared to the consensus estimate of $387.46 million. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, research analysts predict that CNX Resources will post 1.43 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.