CNX Resources (NYSE:CNX) Stock Price Up 3.7%

Shares of CNX Resources Co. (NYSE:CNX) traded up 3.7% during mid-day trading on Friday . The company traded as high as $31.18 and last traded at $31.15. 948,279 shares traded hands during trading, a decline of 65% from the average session volume of 2,709,033 shares. The stock had previously closed at $30.04.

Wall Street Analysts Forecast Growth

CNX has been the subject of a number of recent research reports. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. JPMorgan Chase & Co. boosted their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Piper Sandler downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Stephens reaffirmed an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Finally, Scotiabank increased their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.13.

CNX Resources Stock Performance

The firm has a 50 day moving average of $26.63 and a 200-day moving average of $24.89. The company has a market cap of $4.80 billion, a P/E ratio of 5.62 and a beta of 1.37. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The firm had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. During the same quarter last year, the firm posted $0.29 earnings per share. As a group, sell-side analysts anticipate that CNX Resources Co. will post 1.47 EPS for the current fiscal year.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The purchase 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.

Hedge Funds Weigh In On CNX Resources

Large investors have recently added to or reduced their stakes in the company. Pullen Investment Management LLC grew its stake in CNX Resources by 2.3% during the 2nd quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after buying an additional 623 shares during the last quarter. GAMMA Investing LLC raised its position in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares during the last quarter. Riverwater Partners LLC boosted its stake in CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock worth $1,558,000 after purchasing an additional 676 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in CNX Resources by 3.3% during the 2nd 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. Finally, Congress Asset Management Co. MA increased its stake in CNX Resources by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock valued at $5,311,000 after purchasing an additional 945 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

About CNX Resources

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.