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

CNX Resources Co. (NYSE:CNX) has been assigned an average rating of “Reduce” from the twelve research firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $27.10.

CNX has been the subject of a number of recent analyst reports. Stephens restated an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Scotiabank lifted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Mizuho boosted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Monday.

CNX Resources Stock Down 3.4 %

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

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the prior year, the business earned $0.29 EPS. As a group, sell-side analysts predict that CNX Resources will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNX. QRG Capital Management Inc. boosted its holdings in CNX Resources by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock valued at $4,629,000 after purchasing an additional 23,069 shares during the period. Duality Advisers LP increased its position in shares of CNX Resources by 61.1% in the first quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock valued at $3,112,000 after acquiring an additional 49,741 shares during the period. Boston Partners purchased a new position in shares of CNX Resources in the first quarter valued at about $951,000. Moloney Securities Asset Management LLC purchased a new position in shares of CNX Resources in the first quarter valued at about $986,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of CNX Resources by 243.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock valued at $1,723,000 after acquiring an additional 51,490 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.