Stephens Increases CNX Resources (NYSE:CNX) Price Target to $35.00

CNX Resources (NYSE:CNX) had its price objective increased by equities research analysts at Stephens from $26.00 to $35.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Stephens’ target price indicates a potential downside of 4.29% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research note on Monday, October 14th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Truist Financial lifted their price objective on shares of CNX Resources from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets increased 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 report on Friday, October 4th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.90.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $36.57 on Friday. 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 stock has a 50 day moving average price of $30.89 and a 200 day moving average price of $26.98. The stock has a market capitalization of $5.60 billion, a PE ratio of 6.63 and a beta of 1.38. CNX Resources has a 52 week low of $19.07 and a 52 week high of $37.57.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 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 $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period last year, the business earned $0.35 earnings per share. Analysts predict that CNX Resources will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC increased its stake in CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares during the period. AlphaMark Advisors LLC increased its position in shares of CNX Resources by 36.7% in the first quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer’s stock worth $361,000 after purchasing an additional 4,091 shares during the period. Allspring Global Investments Holdings LLC raised its stake in CNX Resources by 243.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock valued at $1,723,000 after purchasing an additional 51,490 shares in the last quarter. Principal Financial Group Inc. lifted its position in CNX Resources by 11.2% during the first 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 period. Finally, SeaBridge Investment Advisors LLC grew its stake in CNX Resources by 10.1% during the first quarter. SeaBridge Investment Advisors LLC now owns 77,277 shares of the oil and gas producer’s stock worth $1,833,000 after buying an additional 7,082 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

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.