CNX Resources Co. (NYSE:CNX) Receives $26.13 Consensus PT from Analysts

CNX Resources Co. (NYSE:CNX) has earned an average recommendation of “Reduce” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $26.13.

Several analysts have recently commented on the stock. Stephens reiterated an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Mizuho increased their target price on CNX Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday. Scotiabank raised their price target on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Truist Financial upped their price objective on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction on Monday, September 9th. The stock was 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 directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of CNX Resources

Several institutional investors have recently made changes to their positions in CNX. Mizuho Markets Americas LLC acquired a new position in CNX Resources in the second quarter valued at $97,200,000. American Century Companies Inc. lifted its stake in shares of CNX Resources by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock valued at $89,890,000 after purchasing an additional 397,729 shares in the last quarter. LSV Asset Management grew its holdings in shares of CNX Resources by 1.4% during the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock worth $43,276,000 after purchasing an additional 23,800 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CNX Resources by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock worth $29,107,000 after purchasing an additional 9,356 shares during the period. Finally, Tributary Capital Management LLC increased its position in CNX Resources by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock worth $21,917,000 after purchasing an additional 2,535 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Up 2.1 %

CNX opened at $30.04 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 company has a market cap of $4.60 billion, a price-to-earnings ratio of 5.45 and a beta of 1.37. CNX Resources has a one year low of $19.07 and a one year high of $30.22. The business’s fifty day moving average is $26.55 and its two-hundred day moving average is $24.86.

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, 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 period in the previous year, the firm earned $0.29 EPS. Analysts anticipate that CNX Resources will post 1.47 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.