Analysts Set CNX Resources Co. (NYSE:CNX) Target Price at $27.22

Shares of CNX Resources Co. (NYSE:CNX) have been given a consensus recommendation of “Reduce” by the twelve analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $27.10.

Several research analysts have issued reports on CNX shares. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Scotiabank upped their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. 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 research report on Monday. Finally, Truist Financial upped their target price on shares of CNX Resources from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, September 30th.

Insider Activity

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in CNX Resources by 54.1% in 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 in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 1,136 shares in the last quarter. CWM LLC grew its stake in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 935 shares during the period. Natixis acquired a new stake in CNX Resources in the 1st quarter valued at $79,000. Finally, Innealta Capital LLC acquired a new stake in CNX Resources in the 2nd quarter valued at $131,000. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Trading Down 3.4 %

NYSE:CNX opened at $35.04 on Friday. CNX Resources has a one year low of $19.07 and a one year high of $36.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The company’s 50-day simple moving average is $29.14 and its 200 day simple moving average is $26.26. The firm has a market capitalization of $5.37 billion, a P/E ratio of 6.35 and a beta of 1.38.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 EPS 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 business had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. As a group, analysts forecast that CNX Resources will post 1.43 EPS for the current fiscal year.

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.