Brokerages Set CNX Resources Co. (NYSE:CNX) Price Target at $29.75

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus recommendation of “Strong Sell” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $29.75.

A number of equities research analysts have weighed in on CNX shares. Truist Financial boosted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Mizuho dropped their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. TD Cowen started coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target for the company. Finally, JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th.

Insider Activity

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.65% of the company’s stock.

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 CNX. Sequoia Financial Advisors LLC increased its stake in 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 worth $428,000 after acquiring an additional 442 shares during the last quarter. CWM LLC increased its position in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in 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 worth $712,000 after purchasing an additional 941 shares during the last quarter. Blue Trust Inc. raised its stake in CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,131 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 1,177 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Price Performance

NYSE CNX opened at $29.23 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 0.48 and a beta of 1.42. The stock has a 50-day moving average of $35.98 and a 200 day moving average of $32.09. CNX Resources has a one year low of $19.07 and a one year high of $41.93.

CNX Resources (NYSE:CNX) last released its quarterly earnings data 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 27.79% and a return on equity of 7.54%. The firm had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period in the previous year, the company earned $0.35 earnings per share. On average, sell-side analysts forecast that CNX Resources will post 1.59 EPS for the current 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.