CNX Resources Co. (NYSE:CNX) Receives $26.13 Average Target Price from Analysts

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus rating of “Reduce” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.13.

A number of research firms have weighed in on CNX. Mizuho raised their price objective on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Scotiabank raised 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. Finally, Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $22.00 to $20.00 in a report on Thursday, August 15th.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 666 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of CNX Resources by 113.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 1,136 shares in the last quarter. Natixis acquired a new stake in shares of CNX Resources in the first quarter valued at about $79,000. Innealta Capital LLC purchased a new stake in CNX Resources during the second quarter worth about $131,000. Finally, TFO Wealth Partners LLC grew its position in CNX Resources by 64,084.6% during the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 8,331 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

Shares of CNX stock opened at $30.04 on Tuesday. CNX Resources has a 12 month low of $19.07 and a 12 month high of $30.22. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.60 billion, a P/E ratio of 5.45 and a beta of 1.37. The firm has a fifty day moving average price of $26.55 and a 200 day moving average price of $24.86.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 EPS 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 the consensus estimate of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the prior year, the business posted $0.29 EPS. Sell-side analysts predict that CNX Resources will post 1.47 earnings per share for the current fiscal 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.