CNX Resources (NYSE:CNX) Stock Price Up 3.7%

Shares of CNX Resources Co. (NYSE:CNX) rose 3.7% on Friday . The stock traded as high as $31.18 and last traded at $31.15. Approximately 948,279 shares changed hands during trading, a decline of 65% from the average daily volume of 2,709,033 shares. The stock had previously closed at $30.04.

Analyst Upgrades and Downgrades

CNX has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Truist Financial increased their price target on shares of CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Stephens reissued an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. Finally, Mizuho increased their price target on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.13.

CNX Resources Trading Up 6.1 %

The company’s fifty day moving average is $26.75 and its two-hundred day moving average is $24.99. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 5.78 and a beta of 1.37. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its earnings results 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 firm had revenue of $321.44 million for the quarter, compared to analysts’ expectations 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 last year, the company earned $0.29 earnings per share. On average, research analysts predict that CNX Resources Co. will post 1.47 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction that occurred on 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 directly owns 401,820 shares in the company, valued at $10,772,794.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pullen Investment Management LLC grew its position in shares of CNX Resources by 2.3% during the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after acquiring an additional 623 shares during the last quarter. GAMMA Investing LLC grew its position in shares of 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 worth $46,000 after acquiring an additional 666 shares during the last quarter. Riverwater Partners LLC grew its position in shares of CNX Resources by 1.0% during the first quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock worth $1,558,000 after acquiring an additional 676 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of CNX Resources by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after acquiring an additional 941 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its position in CNX Resources by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock valued at $5,311,000 after buying an additional 945 shares during the last quarter. Institutional investors and hedge funds 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.