CNX Resources (NYSE:CNX) Rating Increased to Hold at StockNews.com

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

CNX has been the topic of several other research reports. Piper Sandler dropped their target price on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Wednesday, January 29th. Bank of America assumed coverage on CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 price target for the company. JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $31.00 to $37.00 in a research note on Thursday, December 5th. Stephens increased their target price on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Mizuho reduced their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, CNX Resources has an average rating of “Reduce” and an average price target of $29.67.

CNX Resources Stock Performance

CNX Resources stock traded up $0.22 during mid-day trading on Monday, hitting $27.60. 4,199,544 shares of the company’s stock traded hands, compared to its average volume of 4,374,445. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of -40.59, a P/E/G ratio of 0.36 and a beta of 1.38. The firm has a 50 day simple moving average of $34.10 and a two-hundred day simple moving average of $32.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts expect that CNX Resources will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNX Resources

Several institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC boosted its position in CNX Resources by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after buying an additional 442 shares in the last quarter. Principal Securities Inc. grew its position in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 691 shares during the period. SeaBridge Investment Advisors LLC boosted its position in shares of CNX Resources by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock worth $3,311,000 after buying an additional 759 shares during the period. CWM LLC grew its position in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares in the last quarter. Finally, Blue Trust Inc. raised 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 purchasing an additional 1,131 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Company Profile

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.