CNX Resources (NYSE:CNX) Cut to “Underperform” at Mizuho

CNX Resources (NYSE:CNX) was downgraded by stock analysts at Mizuho from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $38.00 target price on the oil and gas producer’s stock, up from their prior target price of $33.00. Mizuho’s target price points to a potential upside of 4.02% from the stock’s current price.

Other analysts have also issued research reports about the stock. Scotiabank lifted their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of 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, December 5th. Bank of America initiated coverage on CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 target price for the company. Finally, BMO Capital Markets boosted their price target on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Eight analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, CNX Resources currently has an average rating of “Reduce” and a consensus price target of $30.50.

CNX Resources Stock Down 1.0 %

Shares of CNX Resources stock opened at $36.53 on Monday. The company has a fifty day moving average price of $37.36 and a 200 day moving average price of $30.60. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last issued its earnings results 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 company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities research analysts forecast that CNX Resources will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of CNX Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Tributary Capital Management LLC lifted its stake in CNX Resources by 0.3% during the second 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 during the last quarter. Pullen Investment Management LLC boosted its holdings in shares of CNX Resources by 2.3% in the 2nd quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock valued at $666,000 after buying an additional 623 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of CNX Resources during the 2nd quarter valued at about $327,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CNX Resources by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,929 shares of the oil and gas producer’s stock worth $946,000 after acquiring an additional 3,052 shares during the period. Finally, Innealta Capital LLC bought a new position in CNX Resources in the second quarter worth about $131,000. Institutional investors and hedge funds 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.