Analysts Set CNX Resources Co. (NYSE:CNX) Price Target at $29.75

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus recommendation of “Strong Sell” from the fourteen research firms that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $29.75.

Several equities research analysts have recently issued reports on the stock. Capital One Financial lowered shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Truist Financial boosted their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Piper Sandler raised their price target on CNX Resources from $20.00 to $23.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Finally, Mizuho cut their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNX. Blue Trust Inc. lifted its holdings 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 valued at $64,000 after purchasing an additional 1,131 shares during the last quarter. CWM LLC increased its position in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares in the last quarter. GAMMA Investing LLC raised its stake in CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 1,177 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in CNX Resources in the third quarter valued at about $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in CNX Resources in the third quarter worth about $205,000. 95.16% of the stock is owned by institutional investors.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $29.23 on Monday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The stock has a 50 day moving average price of $35.98 and a 200-day moving average price of $32.09. CNX Resources has a one year low of $19.07 and a one year high of $41.93.

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