CNX Resources (NYSE:CNX) Raised to “Hold” at StockNews.com

CNX Resources (NYSE:CNX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other research firms have also issued reports on CNX. Truist Financial lifted their price objective 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. TD Cowen started coverage on shares of CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price objective on the stock. Piper Sandler lowered 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. Stephens increased their price target on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Bank of America assumed coverage on CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective on the stock. Eight investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $29.67.

CNX Resources Stock Performance

NYSE:CNX opened at $28.46 on Monday. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -41.84, a PEG ratio of 0.36 and a beta of 1.38. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The firm’s fifty day simple moving average is $33.85 and its 200 day simple moving average is $32.27.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities research analysts expect that CNX Resources will post 2.36 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.65% of the stock is currently owned by insiders.

Institutional Trading of CNX Resources

A number of large investors have recently added to or reduced their stakes in CNX. Geode Capital Management LLC increased its holdings in shares of CNX Resources by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock valued at $117,366,000 after buying an additional 12,333 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CNX Resources by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after acquiring an additional 202,890 shares during the last quarter. Aureus Asset Management LLC raised its position in shares of CNX Resources by 0.6% during the third quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock worth $20,919,000 after purchasing an additional 3,659 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after purchasing an additional 466,694 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of CNX Resources by 1.3% in the 4th quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer’s stock valued at $18,138,000 after purchasing an additional 6,404 shares during the period. 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.