CNX Resources (NYSE:CNX) Upgraded to Strong Sell at Tudor Pickering

Tudor Pickering upgraded shares of CNX Resources (NYSE:CNX) to a strong sell rating in a report issued on Tuesday, Zacks.com reports.

CNX has been the topic of several other reports. 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 report on Monday. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a hold rating to a sell rating in a research note on Tuesday. Scotiabank lifted their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the company a sector underperform rating in a research note on Tuesday, August 20th. Piper Sandler lowered shares of CNX Resources from a neutral rating to an underweight rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Finally, Stephens reissued an equal weight rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. Five investment 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. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $27.00.

CNX Resources Trading Up 0.3 %

CNX Resources stock opened at $32.66 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 5.92 and a beta of 1.37. CNX Resources has a 1 year low of $19.07 and a 1 year high of $32.75. The firm’s 50 day moving average price is $27.53 and its two-hundred day moving average price is $25.51.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The firm had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. During the same period in the previous year, the company posted $0.29 EPS. On average, research analysts predict that CNX Resources will post 1.44 EPS for the current fiscal year.

Insider Transactions at CNX Resources

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the period. Hexagon Capital Partners LLC increased its stake in 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 acquiring an additional 1,136 shares during the period. Natixis bought a new stake in CNX Resources in the first quarter valued at about $79,000. Innealta Capital LLC bought a new stake in CNX Resources in the second quarter valued at about $131,000. Finally, Legacy Capital Wealth Partners LLC bought a new stake in CNX Resources in the second quarter valued at about $205,000. Institutional investors 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.