CNX Resources Co. (NYSE:CNX) Receives $26.13 Consensus Target Price from Analysts

CNX Resources Co. (NYSE:CNX) has received an average recommendation of “Reduce” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $26.13.

A number of equities analysts have recently issued reports on CNX shares. Stephens restated an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Scotiabank raised their price target on 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. upped their price objective on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Truist Financial increased their price objective on CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $31.81 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. CNX Resources has a 12 month low of $19.07 and a 12 month high of $32.26. The firm has a market capitalization of $4.87 billion, a P/E ratio of 5.76 and a beta of 1.37. The company’s fifty day moving average price is $26.86 and its 200 day moving average price is $25.09.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $321.44 million during the quarter, compared to the consensus estimate of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period in the previous year, the business earned $0.29 EPS. As a group, sell-side analysts predict that CNX Resources will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On CNX Resources

Several institutional investors have recently modified their holdings of CNX. Creative Planning raised its holdings in CNX Resources by 9.8% during the second quarter. Creative Planning now owns 31,265 shares of the oil and gas producer’s stock worth $760,000 after purchasing an additional 2,779 shares during the last quarter. Algert Global LLC acquired a new position in shares of CNX Resources during the 2nd quarter worth $375,000. Caxton Associates LP grew its stake in CNX Resources by 46.5% in the 2nd quarter. Caxton Associates LP now owns 43,854 shares of the oil and gas producer’s stock valued at $1,066,000 after acquiring an additional 13,914 shares during the last quarter. Bank of Montreal Can increased its holdings in CNX Resources by 2.5% during the 2nd quarter. Bank of Montreal Can now owns 233,515 shares of the oil and gas producer’s stock valued at $5,686,000 after acquiring an additional 5,797 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in CNX Resources during the second quarter worth about $326,000. Hedge funds and other institutional investors 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.