Truist Financial Issues Positive Forecast for CNX Resources (NYSE:CNX) Stock Price

CNX Resources (NYSE:CNX) had its price objective hoisted by Truist Financial from $34.00 to $35.00 in a report issued on Friday,Benzinga reports. They currently have a hold rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the company. Tudor Pickering raised CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut CNX Resources from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $31.00 to $37.00 in a report on Thursday. Scotiabank boosted their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a report on Monday, October 14th. Finally, BMO Capital Markets upped their price target on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Seven equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus target price of $30.00.

CNX Resources Stock Performance

CNX Resources stock opened at $36.82 on Friday. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.85 and a beta of 1.43. CNX Resources has a 12-month low of $19.07 and a 12-month high of $41.93. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $36.83 and a 200 day simple moving average of $30.00.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period in the previous year, the business posted $0.35 EPS. On average, research analysts anticipate that CNX Resources will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

A number of large investors have recently added to or reduced their stakes in the business. Mizuho Markets Americas LLC bought a new position in CNX Resources during the 2nd quarter worth $97,200,000. Connor Clark & Lunn Investment Management Ltd. increased its position in CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after buying an additional 466,694 shares during the period. American Century Companies Inc. increased its position in CNX Resources by 12.0% during 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. Renaissance Technologies LLC increased its position in CNX Resources by 197.0% during the 2nd quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock worth $11,324,000 after buying an additional 309,100 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in CNX Resources by 12.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after buying an additional 202,890 shares during the period. 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.