Brokerages Set CNX Resources Co. (NYSE:CNX) Target Price at $29.00

Shares of CNX Resources Co. (NYSE:CNX) have received a consensus recommendation of “Reduce” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $29.00.

CNX has been the subject of a number of research analyst reports. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research report on Monday, October 14th. JPMorgan Chase & Co. lowered their price target on shares of CNX Resources from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd.

Insider Activity

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Several hedge funds have recently bought and sold shares of CNX. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after buying an additional 466,694 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of CNX Resources by 3.1% in the third quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer’s stock valued at $1,356,000 after acquiring an additional 1,241 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of CNX Resources in the third quarter valued at $205,000. Victory Capital Management Inc. boosted its holdings in CNX Resources by 2.8% in the third quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer’s stock valued at $3,191,000 after purchasing an additional 2,663 shares during the period. Finally, Entropy Technologies LP acquired a new position in CNX Resources during the 3rd quarter worth $519,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Price Performance

CNX Resources stock opened at $38.16 on Wednesday. The stock has a market capitalization of $5.70 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.71 and a beta of 1.37. The company’s fifty day moving average price is $32.54 and its 200 day moving average price is $27.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. CNX Resources has a 1 year low of $19.07 and a 1 year high of $38.81.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter last year, the business earned $0.35 earnings per share. As a group, equities research analysts anticipate that CNX Resources will post 1.5 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.