CNX Resources Co. (NYSE:CNX) Given Average Recommendation of “Strong Sell” by Brokerages

CNX Resources Co. (NYSE:CNX) has been given a consensus recommendation of “Strong Sell” by the twelve brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.50.

Several research analysts have issued reports on CNX shares. Stephens increased their price target on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. BMO Capital Markets increased their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Mizuho lowered shares of CNX Resources from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $33.00 to $38.00 in a research note on Monday, December 16th. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Finally, Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st.

Hedge Funds Weigh In On CNX Resources

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its position in CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares during the period. CWM LLC grew its position in shares of CNX Resources by 77.0% during 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. GAMMA Investing LLC increased its stake in shares of CNX Resources by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of CNX Resources during the 2nd quarter worth approximately $131,000. Finally, Atomi Financial Group Inc. bought a new stake in shares of CNX Resources in the 3rd quarter worth approximately $202,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

NYSE:CNX opened at $36.69 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93. The company has a fifty day moving average of $37.49 and a 200-day moving average of $31.00. The firm has a market capitalization of $5.48 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts anticipate that CNX Resources will post 1.54 EPS for the current year.

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.