Stephens Boosts CNX Resources (NYSE:CNX) Price Target to $35.00

CNX Resources (NYSE:CNX) had its target price boosted by Stephens from $26.00 to $35.00 in a research note published on Friday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

Several other analysts have also recently issued reports on CNX. JPMorgan Chase & Co. increased their target price on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Scotiabank upped their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Truist Financial lifted their price target on shares of CNX Resources from $31.00 to $38.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, BMO Capital Markets increased their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, CNX Resources has an average rating of “Hold” and a consensus price target of $27.90.

CNX Resources Price Performance

NYSE CNX opened at $36.57 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. CNX Resources has a 12 month low of $19.07 and a 12 month high of $37.57. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 6.63 and a beta of 1.38. The company’s 50 day moving average is $30.89 and its two-hundred day moving average is $26.99.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The company had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, research analysts anticipate that CNX Resources will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CNX Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its holdings in CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 1,136 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in shares of CNX Resources by 36.7% in the first quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer’s stock worth $361,000 after buying an additional 4,091 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of CNX Resources by 243.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock worth $1,723,000 after buying an additional 51,490 shares during the period. Principal Financial Group Inc. lifted its stake in shares of CNX Resources by 11.2% during the 1st quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer’s stock worth $15,643,000 after acquiring an additional 66,528 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its holdings in CNX Resources by 10.1% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 77,277 shares of the oil and gas producer’s stock valued at $1,833,000 after acquiring an additional 7,082 shares during the period. Hedge funds and other 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.