CNX Resources (NYSE:CNX) PT Raised to $33.00 at Mizuho

CNX Resources (NYSE:CNX) had its target price raised by analysts at Mizuho from $32.00 to $33.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective would suggest a potential downside of 3.17% from the company’s current price.

A number of other research firms have also weighed in on CNX. 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. JPMorgan Chase & Co. increased their price target on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Finally, Tudor, Pickering, Holt & Co. lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.10.

CNX Resources Price Performance

NYSE:CNX opened at $34.08 on Monday. The business’s 50-day moving average price is $29.34 and its 200 day moving average price is $26.34. The firm has a market cap of $5.22 billion, a P/E ratio of 6.17 and a beta of 1.38. CNX Resources has a 52-week low of $19.07 and a 52-week high of $36.96. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

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

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Mizuho Markets Americas LLC bought a new position in CNX Resources in the 2nd quarter worth approximately $97,200,000. American Century Companies Inc. increased its position in 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 worth $89,890,000 after buying an additional 397,729 shares during the period. 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 in the last quarter. Tributary Capital Management LLC grew its holdings in shares of 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. Finally, Principal Financial Group Inc. grew its holdings in shares of CNX Resources by 11.2% during the 1st quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer’s stock worth $15,643,000 after purchasing an additional 66,528 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

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.