Tudor, Pickering, Holt & Co. Lowers CNX Resources (NYSE:CNX) to Sell

CNX Resources (NYSE:CNX) was downgraded by investment analysts at Tudor, Pickering, Holt & Co. from a “hold” rating to a “sell” rating in a report issued on Tuesday, MarketBeat reports.

Other research analysts have also recently issued reports about the stock. Scotiabank lifted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Mizuho lifted their price target on shares of CNX Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Stephens reaffirmed an “equal weight” rating and issued a $27.00 target price on shares of CNX Resources in a report on Monday, July 15th. Finally, Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $32.57 on Tuesday. The firm has a market cap of $4.99 billion, a PE ratio of 5.90 and a beta of 1.37. CNX Resources has a 12-month low of $19.07 and a 12-month high of $32.75. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $27.38 and its two-hundred day simple moving average is $25.43.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The firm had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, equities analysts expect that CNX Resources will post 1.44 EPS for the current year.

Insider Transactions at CNX Resources

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,136 shares during the period. Natixis purchased a new stake in shares of CNX Resources in the first quarter valued at $79,000. Innealta Capital LLC purchased a new stake in shares of CNX Resources in the second quarter valued at $131,000. Finally, TFO Wealth Partners LLC raised its stake in shares of CNX Resources by 64,084.6% in the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock valued at $167,000 after acquiring an additional 8,331 shares during the period. Hedge funds and other institutional investors 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.