CNX Resources (NYSE:CNX) Lowered to “Sell” at Tudor, Pickering, Holt & Co.

CNX Resources (NYSE:CNX) was downgraded by equities researchers at Tudor, Pickering, Holt & Co. from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Marketbeat.com reports.

A number of other research analysts have also recently commented on CNX. Stephens restated an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Scotiabank increased their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Mizuho increased their target price on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, CNX Resources currently has a consensus rating of “Hold” and an average price target of $27.00.

CNX Resources Trading Up 3.4 %

NYSE CNX opened at $32.57 on Tuesday. The company’s 50-day moving average price is $27.38 and its 200-day moving average price is $25.43. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.99 billion, a PE ratio of 5.90 and a beta of 1.37. CNX Resources has a 12 month low of $19.07 and a 12 month high of $32.75.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 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 analysts’ expectations of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the prior year, the business posted $0.29 earnings per share. Equities research analysts forecast that CNX Resources will post 1.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Trading of CNX Resources

A number of institutional investors have recently made changes to their positions in CNX. GAMMA Investing LLC raised its stake in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 666 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,136 shares in the last quarter. Natixis purchased a new position in shares of CNX Resources in the 1st quarter valued at approximately $79,000. Innealta Capital LLC acquired a new stake in CNX Resources in the 2nd quarter worth approximately $131,000. Finally, TFO Wealth Partners LLC grew its position in CNX Resources by 64,084.6% during the 4th quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 8,331 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.