CNX Resources (NYSE:CNX) Price Target Increased to $38.00 by Analysts at Truist Financial

CNX Resources (NYSE:CNX) had its target price boosted by Truist Financial from $31.00 to $38.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective would indicate a potential upside of 19.80% from the company’s current price.

A number of other brokerages have also issued reports on CNX. Stephens reissued an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Piper Sandler downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Mizuho increased their price target on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, CNX Resources has a consensus rating of “Hold” and an average price target of $27.00.

CNX Resources Trading Up 0.7 %

NYSE:CNX traded up $0.23 on Monday, reaching $31.72. The stock had a trading volume of 45,770 shares, compared to its average volume of 2,723,645. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 5.70 and a beta of 1.37. CNX Resources has a 12-month low of $19.07 and a 12-month high of $32.26. 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 firm’s fifty day moving average is $27.25 and its two-hundred day moving average is $25.36.

CNX Resources (NYSE:CNX) last released its earnings results 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. The firm had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the previous year, the company earned $0.29 EPS. Equities analysts expect that CNX Resources will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.

Institutional Trading of CNX Resources

A number of institutional investors and hedge funds have recently modified their holdings of CNX. Pullen Investment Management LLC raised its stake in CNX Resources by 2.3% during the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after acquiring an additional 623 shares during the period. GAMMA Investing LLC raised its position 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. Riverwater Partners LLC lifted its holdings in shares of CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock worth $1,558,000 after purchasing an additional 676 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after purchasing an additional 941 shares during the period. Finally, Congress Asset Management Co. MA grew its stake in CNX Resources by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after buying an additional 945 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

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.