Piper Sandler Raises CNX Resources (NYSE:CNX) Price Target to $22.00

CNX Resources (NYSE:CNX) had its price target raised by Piper Sandler from $18.00 to $22.00 in a research report report published on Friday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

CNX has been the topic of a number of other reports. Scotiabank raised their price target on shares of CNX Resources from $20.00 to $25.00 and gave the company a sector underperform rating in a report on Thursday, April 11th. Truist Financial raised their price target on shares of CNX Resources from $28.00 to $30.00 and gave the company a buy rating in a report on Friday, April 5th. Bank of America upgraded shares of CNX Resources from an underperform rating to a neutral rating and set a $23.00 price target on the stock in a report on Friday, January 5th. Roth Mkm raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a neutral rating in a report on Tuesday, April 2nd. Finally, Mizuho raised their price target on shares of CNX Resources from $24.00 to $25.00 and gave the company a neutral rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, CNX Resources currently has an average rating of Hold and a consensus price target of $24.43.

CNX Resources Stock Up 0.4 %

Shares of CNX Resources stock opened at $24.10 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49. CNX Resources has a 1 year low of $14.36 and a 1 year high of $24.82. The firm’s 50-day moving average is $22.24 and its two-hundred day moving average is $21.36. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 2.65 and a beta of 1.33.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The company had revenue of $999.50 million for the quarter, compared to analysts’ expectations of $401.62 million. During the same period in the prior year, the business earned $1.64 EPS. The firm’s quarterly revenue was down 38.9% on a year-over-year basis. As a group, research analysts expect that CNX Resources will post 1.31 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.83, for a total value of $25,537.58. Following the completion of the transaction, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNX Resources

Institutional investors have recently bought and sold shares of the business. Teza Capital Management LLC boosted its position in shares of CNX Resources by 0.5% during the 3rd quarter. Teza Capital Management LLC now owns 111,206 shares of the oil and gas producer’s stock valued at $2,511,000 after acquiring an additional 522 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in CNX Resources by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,540 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 590 shares during the period. Congress Asset Management Co. MA lifted its position in CNX Resources by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock valued at $5,311,000 after buying an additional 945 shares during the last quarter. M&T Bank Corp lifted its position in CNX Resources by 10.5% in the fourth quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 1,014 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in CNX Resources by 113.4% in 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 buying an additional 1,136 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other 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.