StockNews.com Downgrades CNX Resources (NYSE:CNX) to Sell

StockNews.com lowered shares of CNX Resources (NYSE:CNX) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other research analysts have also recently issued reports on the company. Truist Financial upped their price target on CNX Resources from $30.00 to $31.00 and gave the company a buy rating in a report on Monday, July 22nd. Stephens reissued an equal weight rating and issued a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Piper Sandler boosted their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a neutral rating in a report on Friday, April 19th. Scotiabank boosted their price target on CNX Resources from $20.00 to $25.00 and gave the company a sector underperform rating in a research note on Thursday, April 11th. Finally, Mizuho raised their price objective on CNX Resources from $25.00 to $29.00 and gave the company a neutral rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $25.57.

CNX Resources Trading Up 1.3 %

NYSE:CNX opened at $24.42 on Friday. CNX Resources has a 1 year low of $19.07 and a 1 year high of $27.33. The business has a fifty day moving average of $25.24 and a 200-day moving average of $23.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 4.42 and a beta of 1.37.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the previous year, the company earned $0.29 earnings per share. Equities analysts predict that CNX Resources will post 1.36 earnings per share for the current year.

Institutional Trading of CNX Resources

Large investors have recently bought and sold shares of the stock. LSV Asset Management lifted its holdings in CNX Resources by 1.4% during the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock valued at $43,276,000 after purchasing an additional 23,800 shares during the last quarter. Paralel Advisors LLC acquired a new stake in CNX Resources in the second quarter worth $2,338,000. Legacy Capital Wealth Partners LLC bought a new position in shares of CNX Resources during the second quarter worth $205,000. Natixis Advisors LLC grew its holdings in shares of CNX Resources by 9.1% in the 2nd quarter. Natixis Advisors LLC now owns 40,403 shares of the oil and gas producer’s stock valued at $982,000 after buying an additional 3,366 shares during the period. Finally, SeaBridge Investment Advisors LLC increased its position in shares of CNX Resources by 17.3% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 90,639 shares of the oil and gas producer’s stock valued at $2,203,000 after buying an additional 13,362 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.