CNX Resources (NYSE:CNX) Hits New 52-Week High at $31.99

CNX Resources Co. (NYSE:CNX)’s stock price hit a new 52-week high on Monday . The company traded as high as $31.99 and last traded at $31.99, with a volume of 223 shares changing hands. The stock had previously closed at $31.88.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CNX shares. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Mizuho increased their price objective on CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Stephens reissued an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Finally, Scotiabank lifted their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, CNX Resources has a consensus rating of “Hold” and an average price target of $26.13.

CNX Resources Stock Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The firm has a market capitalization of $4.92 billion, a PE ratio of 5.78 and a beta of 1.37. The firm has a fifty day moving average price of $26.75 and a 200 day moving average price of $25.01.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping 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 business had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. During the same period last year, the firm posted $0.29 earnings per share. Research analysts anticipate that CNX Resources Co. will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Several large investors have recently made changes to their positions in CNX. Vanguard Personalized Indexing Management LLC increased its stake in shares of CNX Resources by 17.0% during the 4th 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. Assetmark Inc. bought a new position in shares of CNX Resources in the 4th quarter valued at approximately $449,000. Advisory Services Network LLC lifted its holdings in CNX Resources by 12.4% in the 4th quarter. Advisory Services Network LLC now owns 13,780 shares of the oil and gas producer’s stock worth $276,000 after purchasing an additional 1,518 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. boosted its position in CNX Resources by 0.5% during the fourth quarter. Eubel Brady & Suttman Asset Management Inc. now owns 564,654 shares of the oil and gas producer’s stock worth $11,293,000 after purchasing an additional 2,662 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in CNX Resources by 10.9% during the fourth quarter. Allianz Asset Management GmbH now owns 593,632 shares of the oil and gas producer’s stock valued at $11,873,000 after purchasing an additional 58,328 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

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.