CNX Resources (NYSE:CNX) Upgraded at Stephens

CNX Resources (NYSE:CNX) was upgraded by equities research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Tuesday,Finviz reports. The firm presently has a $48.00 target price on the oil and gas producer’s stock, up from their previous target price of $35.00. Stephens’ price objective would suggest a potential upside of 56.42% from the company’s current price.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Truist Financial raised their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Morgan Stanley started coverage on shares of CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Finally, Mizuho decreased their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.38.

CNX Resources Stock Performance

Shares of CNX stock opened at $30.69 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The company has a market capitalization of $4.57 billion, a P/E ratio of -45.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company’s 50 day moving average price is $29.61 and its two-hundred day moving average price is $33.01. CNX Resources has a 52 week low of $21.07 and a 52 week high of $41.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that CNX Resources will post 2.18 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CNX Resources

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of CNX Resources by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock valued at $117,366,000 after acquiring an additional 12,333 shares during the period. Northern Trust Corp raised its stake in CNX Resources by 20.5% in the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer’s stock valued at $88,792,000 after purchasing an additional 411,485 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock valued at $73,357,000 after purchasing an additional 139,647 shares in the last quarter. Woodline Partners LP acquired a new position in CNX Resources in the fourth quarter valued at about $71,971,000. Finally, Capital Research Global Investors raised its stake in CNX Resources by 31.8% in the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer’s stock valued at $53,172,000 after purchasing an additional 350,000 shares in the last quarter. 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.