CNX Resources Co. (NYSE:CNX) Receives $29.75 Consensus PT from Analysts

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus recommendation of “Strong Sell” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $29.75.

Several brokerages have recently issued reports on CNX. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Monday, October 14th. Truist Financial raised their price target on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut CNX Resources from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Finally, Morgan Stanley began coverage on shares of CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price on the stock.

CNX Resources Price Performance

Shares of CNX opened at $28.60 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.27 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 0.47 and a beta of 1.42. The stock’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $32.18. CNX Resources has a 1 year low of $19.07 and a 1 year high of $41.93.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter in the previous year, the company earned $0.35 earnings per share. On average, equities analysts predict that CNX Resources will post 1.59 earnings per share for the current year.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after purchasing an additional 12,333 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CNX Resources by 12.2% during the third 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 buying an additional 202,890 shares during the last quarter. Aureus Asset Management LLC raised its position in 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 acquiring an additional 3,659 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in CNX Resources by 311.0% in 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 acquiring an additional 466,694 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of CNX Resources by 197.0% in the 2nd quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock valued at $11,324,000 after acquiring an additional 309,100 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

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.