CNX Resources Co. (NYSE:CNX) Receives $29.69 Consensus PT from Analysts

CNX Resources Co. (NYSE:CNX) has earned an average rating of “Strong Sell” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.38.

A number of equities analysts recently commented on the stock. Mizuho dropped their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price for the company. JPMorgan Chase & Co. increased their price target on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday. Roth Capital set a $30.00 price target on CNX Resources in a research note on Thursday, January 23rd. Finally, Piper Sandler cut their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th.

CNX Resources Stock Up 2.4 %

NYSE CNX opened at $29.83 on Tuesday. The stock has a 50 day moving average price of $29.81 and a 200-day moving average price of $32.91. CNX Resources has a one year low of $21.07 and a one year high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The company has a market capitalization of $4.44 billion, a P/E ratio of -43.86, a P/E/G ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, equities analysts predict that CNX Resources will post 2.18 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds have recently made changes to their positions in the stock. Leavell Investment Management Inc. purchased a new stake in shares of CNX Resources during the third quarter valued at about $250,000. Legacy Capital Wealth Partners LLC raised its stake in shares of CNX Resources by 28.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 10,844 shares of the oil and gas producer’s stock worth $353,000 after acquiring an additional 2,427 shares in the last quarter. Entropy Technologies LP purchased a new stake in CNX Resources during the third quarter valued at approximately $519,000. Victory Capital Management Inc. boosted its stake 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 acquiring an additional 2,663 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in CNX Resources in the third quarter worth $205,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.