CNX Resources (NYSE:CNX) Price Target Raised to $23.00 at Piper Sandler

CNX Resources (NYSE:CNX) had its price target upped by Piper Sandler from $20.00 to $23.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective points to a potential downside of 39.79% from the company’s current price.

A number of other research analysts have also recently commented on the company. Bank of America began coverage on CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price target on the stock. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Scotiabank boosted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Truist Financial downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and dropped their price objective for the company from $38.00 to $34.00 in a report on Monday, October 28th. Seven equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, CNX Resources currently has a consensus rating of “Reduce” and an average target price of $30.00.

CNX Resources Stock Down 0.1 %

Shares of CNX stock opened at $38.20 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. CNX Resources has a one year low of $19.07 and a one year high of $41.93. The company’s fifty day moving average price is $36.73 and its 200-day moving average price is $29.84. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.93 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 analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period last year, the firm earned $0.35 earnings per share. Sell-side analysts expect that CNX Resources will post 1.53 EPS for the current fiscal year.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 22.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.

Institutional Trading of CNX Resources

A number of institutional investors have recently bought and sold shares of CNX. GAMMA Investing LLC lifted its holdings in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 666 shares during the last quarter. QRG Capital Management Inc. lifted its stake in CNX Resources by 13.8% in the second quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock worth $4,629,000 after purchasing an additional 23,069 shares during the last quarter. Friedenthal Financial bought a new stake in CNX Resources in the second quarter worth about $749,000. Neo Ivy Capital Management purchased a new position in shares of CNX Resources during the second quarter valued at approximately $805,000. Finally, Tributary Capital Management LLC grew its stake in shares of CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after buying an additional 2,535 shares during the last quarter. 95.16% of the stock is currently 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.