CNX Resources (NYSE:CNX) Upgraded at Raymond James

Raymond James upgraded shares of CNX Resources (NYSE:CNX) from an underperform rating to a market perform rating in a research note released on Tuesday morning, MarketBeat.com reports.

Several other research analysts also recently weighed in on the stock. Truist Financial increased their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. TD Cowen assumed coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and upped their price target for the company from $31.00 to $37.00 in a research note on Thursday, December 5th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, Stephens boosted their target price on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, CNX Resources presently has an average rating of “Reduce” and a consensus target price of $29.67.

CNX Resources Stock Down 2.1 %

Shares of NYSE:CNX opened at $29.66 on Tuesday. CNX Resources has a 12-month low of $19.97 and a 12-month high of $41.93. The stock has a fifty day simple moving average of $31.75 and a two-hundred day simple moving average of $32.54. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -43.61, a PEG ratio of 0.40 and a beta of 1.38. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate 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 anticipate that CNX Resources will post 2.36 earnings per share for the current fiscal year.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s 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 completion of the transaction, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

A number of large investors have recently made changes to their positions in CNX. Sequoia Financial Advisors LLC raised its position in shares of CNX Resources by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after purchasing an additional 442 shares during the last quarter. Bessemer Group Inc. lifted its holdings in CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Xponance Inc. increased its stake in CNX Resources by 2.9% during the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock worth $766,000 after buying an additional 588 shares in the last quarter. Principal Securities Inc. lifted its holdings in 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 in the last quarter. Finally, SeaBridge Investment Advisors LLC grew its stake in CNX Resources by 0.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock valued at $3,311,000 after acquiring an additional 759 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

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.