Mizuho Raises CNX Resources (NYSE:CNX) Price Target to $32.00

CNX Resources (NYSE:CNX) had its target price increased by Mizuho from $30.00 to $32.00 in a report published on Monday, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas producer’s stock.

A number of other brokerages also recently weighed in on CNX. Truist Financial lifted their price target on CNX Resources from $30.00 to $31.00 and gave the company a buy rating in a report on Monday, July 22nd. Piper Sandler downgraded CNX Resources from a neutral rating to an underweight rating and dropped their target price for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Stephens restated an equal weight rating and set a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the company a neutral rating in a research note on Thursday, September 12th. Finally, Scotiabank lifted their target price 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $26.13.

CNX Resources Price Performance

CNX stock opened at $29.41 on Monday. CNX Resources has a one year low of $19.07 and a one year high of $29.63. The firm has a 50-day moving average of $26.47 and a two-hundred day moving average of $24.82. The firm has a market capitalization of $4.51 billion, a PE ratio of 5.31 and a beta of 1.37. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $387.46 million. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, analysts forecast that CNX Resources will post 1.47 earnings per share for the current year.

Insider Transactions at CNX Resources

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

Institutional Investors Weigh In On CNX Resources

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock valued at $29,107,000 after purchasing an additional 9,356 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in CNX Resources by 17.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 22,427 shares of the oil and gas producer’s stock worth $449,000 after acquiring an additional 3,261 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in CNX Resources in the 4th quarter worth $798,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in CNX Resources during the 4th quarter worth $444,000. Finally, Quest Partners LLC bought a new stake in CNX Resources during the fourth quarter valued at about $1,691,000. 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.