CNX Resources (NYSE:CNX) Price Target Raised to $35.00

CNX Resources (NYSE:CNX) had its price target boosted by Truist Financial from $34.00 to $35.00 in a report issued on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the oil and gas producer’s stock.

CNX has been the topic of a number of other research reports. Bank of America initiated coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 target price on the stock. Mizuho lifted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Finally, Scotiabank lifted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Seven investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $30.00.

CNX Resources Trading Down 3.6 %

Shares of CNX stock opened at $36.82 on Friday. CNX Resources has a 1 year low of $19.07 and a 1 year high of $41.93. The firm’s fifty day simple moving average is $36.83 and its 200 day simple moving average is $30.00. The firm has a market capitalization of $5.50 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

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, topping analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The business had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts predict that CNX Resources will post 1.53 EPS for the current year.

Institutional Investors Weigh In On CNX Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in shares of CNX Resources by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after purchasing an additional 442 shares in the last quarter. Pullen Investment Management LLC boosted its stake in shares of CNX Resources by 2.3% in the 2nd quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock valued at $666,000 after purchasing an additional 623 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 valued at $46,000 after buying an additional 666 shares during the last quarter. CWM LLC raised its holdings in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of CNX Resources by 3.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after buying an additional 941 shares during the last quarter. Institutional investors and hedge funds 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.