CNX Resources (NYSE:CNX) PT Raised to $33.00

CNX Resources (NYSE:CNX) had its price target lifted by Mizuho from $32.00 to $33.00 in a research report report published on Monday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

A number of other research analysts also recently weighed in on CNX. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. BMO Capital Markets upped their price target on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Truist Financial increased their price objective on CNX Resources from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Finally, Tudor Pickering raised CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, CNX Resources currently has an average rating of “Hold” and an average target price of $27.10.

CNX Resources Stock Down 0.9 %

CNX stock opened at $35.05 on Monday. The stock’s 50 day simple moving average is $29.74 and its 200 day simple moving average is $26.46. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $36.96. 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 company has a market cap of $5.37 billion, a P/E ratio of 6.35 and a beta of 1.38.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The business had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. During the same period in the prior year, the business earned $0.29 EPS. On average, research analysts expect that CNX Resources will post 1.43 earnings per share for the current fiscal year.

Insider Activity

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 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, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CNX Resources

Several institutional investors and hedge funds have recently bought and sold shares of CNX. Mizuho Markets Americas LLC bought a new position in CNX Resources during the second quarter valued at $97,200,000. American Century Companies Inc. grew its holdings in CNX Resources by 12.0% during 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 period. Renaissance Technologies LLC grew its holdings in CNX Resources by 197.0% during the second quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock valued at $11,324,000 after purchasing an additional 309,100 shares during the period. LSV Asset Management grew its holdings in CNX Resources by 18.0% during the first quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock valued at $41,679,000 after purchasing an additional 267,768 shares during the period. Finally, Quantbot Technologies LP grew its holdings in CNX Resources by 533.4% during the first quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock valued at $6,795,000 after purchasing an additional 241,250 shares during the period. 95.16% of the stock is owned by 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.