Brokerages Set CNX Resources Co. (NYSE:CNX) PT at $29.67

CNX Resources Co. (NYSE:CNX) has been assigned an average rating of “Strong Sell” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $29.67.

A number of research firms have weighed in on CNX. TD Cowen began coverage on CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. Piper Sandler reduced their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Mizuho reduced their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley assumed coverage on CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target for the company. Finally, Truist Financial lifted their price objective on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its stake in shares of CNX Resources by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after buying an additional 442 shares during the period. Bessemer Group Inc. grew its stake in CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 526 shares during the period. Xponance Inc. grew its stake in CNX Resources by 2.9% during the fourth quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock worth $766,000 after purchasing an additional 588 shares during the period. Principal Securities Inc. grew its stake in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the period. Finally, SeaBridge Investment Advisors LLC grew its stake in CNX Resources by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock worth $3,311,000 after purchasing an additional 759 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Down 0.7 %

Shares of CNX Resources stock opened at $30.28 on Friday. The business’s 50 day simple moving average is $32.34 and its 200 day simple moving average is $32.51. CNX Resources has a 52-week low of $19.33 and a 52-week high of $41.93. The firm has a market cap of $4.52 billion, a PE ratio of -44.53, a P/E/G ratio of 0.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, analysts predict that CNX Resources will post 2.36 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.