CNX Resources Co. (NYSE:CNX) Receives Consensus Recommendation of “Hold” from Brokerages

CNX Resources Co. (NYSE:CNX) has received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $25.00.

CNX has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Scotiabank boosted their price target on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. Roth Mkm raised their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho upped their target price on CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, Truist Financial lifted their price target on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th.

CNX Resources Price Performance

NYSE CNX opened at $24.81 on Thursday. The company has a market cap of $3.80 billion, a P/E ratio of 4.49 and a beta of 1.38. The company has a fifty day simple moving average of $24.52 and a 200 day simple moving average of $22.46. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.45. CNX Resources has a 1 year low of $17.27 and a 1 year high of $26.57.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $381.00 million for the quarter, compared to analyst estimates of $420.13 million. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. On average, sell-side analysts predict that CNX Resources will post 1.32 EPS for the current year.

Hedge Funds Weigh In On CNX Resources

Institutional investors have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new position in shares of CNX Resources in the third quarter valued at approximately $26,000. GAMMA Investing LLC boosted its stake in CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 1,136 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of CNX Resources in the fourth quarter valued at about $55,000. Finally, Natixis purchased a new position in shares of CNX Resources in the first quarter worth about $79,000. 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.