CNX Resources (NYSE:CNX) Price Target Raised to $29.00 at BMO Capital Markets

CNX Resources (NYSE:CNX) had its target price upped by BMO Capital Markets from $26.00 to $29.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a market perform rating on the oil and gas producer’s stock.

Several other research firms also recently commented on CNX. StockNews.com downgraded CNX Resources from a hold rating to a sell rating in a research report on Saturday, August 3rd. Tudor Pickering upgraded CNX Resources to a strong sell rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of CNX Resources from $26.00 to $27.00 and gave the company a neutral rating in a research report on Thursday, September 12th. Stephens restated an equal weight rating and issued a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Finally, Truist Financial lifted their price objective on shares of CNX Resources from $31.00 to $38.00 and gave the stock a buy rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $27.22.

CNX Resources Stock Performance

CNX traded up $0.09 during trading hours on Friday, reaching $34.10. The company’s stock had a trading volume of 1,800,645 shares, compared to its average volume of 2,729,466. The company’s 50-day moving average is $27.87 and its 200-day moving average is $25.62. CNX Resources has a 52 week low of $19.07 and a 52 week high of $34.35. The firm has a market cap of $5.23 billion, a PE ratio of 6.18 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The company 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 period in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts forecast that CNX Resources will post 1.44 EPS for the current year.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 666 shares during the last quarter. Hexagon Capital Partners LLC increased 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 buying an additional 1,136 shares during the period. Natixis bought a new position in CNX Resources in the 1st quarter valued at approximately $79,000. Innealta Capital LLC bought a new position in CNX Resources in the 2nd quarter valued at approximately $131,000. Finally, Legacy Capital Wealth Partners LLC bought a new stake in CNX Resources during the 2nd quarter worth approximately $205,000. 95.16% of the stock is currently 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.