CNX Resources (NYSE:CNX) Stock Rating Upgraded by Raymond James

CNX Resources (NYSE:CNX) was upgraded by equities research analysts at Raymond James from an “underperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently issued reports on CNX. TD Cowen assumed coverage on shares of CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target for the company. Bank of America assumed coverage on shares of CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target for the company. Mizuho decreased their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. Truist Financial upped their price target on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and upped their price target for the company from $31.00 to $37.00 in a report on Thursday, December 5th. Nine analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $29.67.

CNX Resources Trading Down 0.5 %

Shares of NYSE:CNX opened at $30.30 on Tuesday. The stock has a market capitalization of $4.51 billion, a PE ratio of -44.56, a P/E/G ratio of 0.40 and a beta of 1.38. CNX Resources has a 1 year low of $19.58 and a 1 year high of $41.93. The firm has a fifty day moving average price of $31.92 and a 200 day moving average price of $32.56. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Analysts expect that CNX Resources will post 2.36 EPS for the current fiscal year.

Insider Transactions at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.65% of the company’s stock.

Institutional Trading of CNX Resources

Several hedge funds have recently modified their holdings of CNX. CWM LLC grew its stake in shares of CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the last quarter. Creative Planning grew its stake in shares of CNX Resources by 17.5% during the third quarter. Creative Planning now owns 36,735 shares of the oil and gas producer’s stock valued at $1,196,000 after purchasing an additional 5,470 shares during the last quarter. Blue Trust Inc. grew its stake in shares of CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,131 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after purchasing an additional 442 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of CNX Resources during the third quarter valued at approximately $222,000. 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.