CNX Resources Co. (NYSE:CNX) Given Consensus Rating of “Reduce” by Brokerages

Shares of CNX Resources Co. (NYSE:CNX) have been assigned an average recommendation of “Reduce” from the eight ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $26.13.

Several analysts have recently commented on the stock. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Stephens restated an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. Scotiabank raised their price target on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Truist Financial boosted their price objective on CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

Several hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in CNX Resources during the 4th quarter worth approximately $798,000. Parkwood LLC raised its holdings in shares of CNX Resources by 11.2% during the fourth quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock worth $9,809,000 after acquiring an additional 49,278 shares during the period. QRG Capital Management Inc. lifted its position in CNX Resources by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock valued at $4,629,000 after acquiring an additional 23,069 shares in the last quarter. Duality Advisers LP boosted its stake in CNX Resources by 61.1% in the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock worth $3,112,000 after purchasing an additional 49,741 shares during the period. Finally, Boston Partners bought a new position in CNX Resources during the 1st quarter worth about $951,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Trading Up 6.1 %

Shares of CNX opened at $31.88 on Tuesday. 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 company has a market cap of $4.89 billion, a price-to-earnings ratio of 5.78 and a beta of 1.37. The stock has a fifty day moving average price of $26.75 and a two-hundred day moving average price of $24.99. CNX Resources has a 52-week low of $19.07 and a 52-week high of $31.89.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The business had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same period in the previous year, the business posted $0.29 earnings per share. Analysts predict that CNX Resources will post 1.47 EPS for the current fiscal year.

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.