CNX Resources (NYSE:CNX) Price Target Raised to $23.00

CNX Resources (NYSE:CNX) had its price target boosted by Piper Sandler from $20.00 to $23.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an underweight rating on the oil and gas producer’s stock.

A number of other research analysts have also recently commented on the company. Bank of America initiated coverage on CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 target price on the stock. Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Monday, October 14th. Scotiabank upped their target price on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Finally, Truist Financial cut CNX Resources from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $38.00 to $34.00 in a research note on Monday, October 28th. Seven research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, CNX Resources presently has a consensus rating of “Reduce” and a consensus price target of $30.00.

CNX Resources Price Performance

NYSE:CNX opened at $36.82 on Friday. CNX Resources has a 12 month low of $19.07 and a 12 month high of $41.93. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average is $36.83 and its 200 day moving average is $30.00. The company has a market capitalization of $5.50 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period in the prior year, the business posted $0.35 earnings per share. On average, equities research analysts forecast that CNX Resources will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CNX Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mizuho Markets Americas LLC acquired a new stake in shares of CNX Resources during the 2nd quarter valued at about $97,200,000. American Century Companies Inc. increased its stake in CNX Resources by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after buying an additional 397,729 shares during the period. Geode Capital Management LLC increased its stake in CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after buying an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CNX Resources by 12.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after buying an additional 202,890 shares during the period. Finally, LSV Asset Management grew its holdings in CNX Resources by 1.4% during the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock worth $43,276,000 after acquiring an additional 23,800 shares in the last quarter. Hedge funds and other 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.