CNX Resources (NYSE:CNX) Reaches New 12-Month High at $31.99

CNX Resources Co. (NYSE:CNX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $31.99 and last traded at $31.99, with a volume of 223 shares traded. The stock had previously closed at $31.88.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Scotiabank raised their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Mizuho raised their price objective on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Piper Sandler downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, CNX Resources currently has a consensus rating of “Hold” and an average price target of $26.13.

CNX Resources Price Performance

The business’s 50-day moving average price is $26.95 and its 200 day moving average price is $25.16. 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 has a market capitalization of $4.79 billion, a P/E ratio of 5.66 and a beta of 1.37.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The company had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. During the same period last year, the business earned $0.29 earnings per share. Analysts anticipate that CNX Resources Co. will post 1.47 EPS for the current fiscal year.

Insider Activity

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CNX Resources

Several hedge funds have recently bought and sold shares of CNX. Pullen Investment Management LLC lifted its holdings in shares of CNX Resources by 2.3% in the 2nd 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 boosted its position 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 buying an additional 666 shares during the period. Riverwater Partners LLC grew its stake 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 valued at $1,558,000 after buying an additional 676 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of CNX Resources by 3.3% in 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 buying an additional 941 shares during the period. Finally, Congress Asset Management Co. MA lifted its stake in shares of 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 acquiring an additional 945 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

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.