CNX Resources (NYSE:CNX) Upgraded by Raymond James to Market Perform Rating

Raymond James upgraded shares of CNX Resources (NYSE:CNX) from an underperform rating to a market perform rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded 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 report on Thursday, December 5th. Stephens increased their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective for the company. Finally, Bank of America assumed coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective for the company. Nine research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus price target of $29.67.

CNX Resources Trading Up 1.0 %

CNX opened at $30.50 on Tuesday. The firm’s fifty day moving average is $32.09 and its two-hundred day moving average is $32.57. 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 firm has a market cap of $4.54 billion, a PE ratio of -44.84, a price-to-earnings-growth ratio of 0.39 and a beta of 1.38. CNX Resources has a twelve month low of $19.58 and a twelve month high of $41.93.

CNX Resources (NYSE:CNX) last posted 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 negative net margin of 7.14% and a positive return on equity of 6.72%. Equities research analysts anticipate that CNX Resources will post 2.36 EPS for the current year.

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 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 completion of the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

A number of hedge funds have recently modified their holdings of CNX. CWM LLC lifted its stake in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 935 shares during the last quarter. Creative Planning lifted its stake in shares of CNX Resources by 17.5% during the 3rd quarter. Creative Planning now owns 36,735 shares of the oil and gas producer’s stock worth $1,196,000 after buying an additional 5,470 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of CNX Resources by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock worth $428,000 after buying an additional 442 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of CNX Resources during the 3rd quarter worth about $222,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.