CNX Resources Co. (NYSE:CNX) Receives $30.50 Average Target Price from Analysts

Shares of CNX Resources Co. (NYSE:CNX) have been given an average recommendation of “Strong Sell” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.50.

Several analysts have issued reports on CNX shares. Stephens upped their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Bank of America began coverage on CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price on the stock. Mizuho downgraded CNX Resources from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $33.00 to $38.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. downgraded CNX Resources from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $31.00 to $37.00 in a research report on Thursday, December 5th. Finally, Capital One Financial lowered CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research note on Monday, October 14th.

CNX Resources Price Performance

Shares of NYSE CNX opened at $36.62 on Thursday. The stock has a fifty day moving average price of $37.55 and a 200 day moving average price of $31.15. CNX Resources has a 1-year low of $19.07 and a 1-year high of $41.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The company has a market cap of $5.47 billion, a PE ratio of 11.52, a P/E/G ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period last year, the firm earned $0.35 EPS. Sell-side analysts forecast that CNX Resources will post 1.54 EPS for the current year.

Institutional Investors Weigh In On CNX Resources

Hedge funds have recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC bought a new position in CNX Resources during the 2nd quarter worth approximately $97,200,000. American Century Companies Inc. boosted its position in shares of CNX Resources by 12.0% during the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after purchasing an additional 397,729 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CNX Resources by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock valued at $117,366,000 after buying an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of CNX Resources by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after buying an additional 202,890 shares in the last quarter. Finally, LSV Asset Management raised its stake in 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 buying an additional 23,800 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.