CNX Resources Co. (NYSE:CNX) Receives Consensus Rating of “Hold” from Brokerages

CNX Resources Co. (NYSE:CNX) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.43.

CNX has been the topic of several research reports. Roth Mkm upped their price target on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Mizuho lifted their price objective on shares of CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a research report on Friday, January 5th. Scotiabank lifted their price objective on shares of CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th. Finally, Truist Financial lifted their price objective on shares of CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, April 5th.

CNX Resources Price Performance

NYSE CNX opened at $24.21 on Friday. The stock has a market capitalization of $3.71 billion, a P/E ratio of 2.66 and a beta of 1.33. CNX Resources has a 1 year low of $14.36 and a 1 year high of $24.82. The business’s fifty day moving average is $22.43 and its two-hundred day moving average is $21.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $2.59. The company had revenue of $999.50 million for the quarter, compared to analysts’ expectations of $401.62 million. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The firm’s revenue was down 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. On average, research analysts forecast that CNX Resources will post 1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Timothy Scott Bedard sold 1,226 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now directly owns 67,982 shares in the company, valued at approximately $1,416,065.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CNX Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Teza Capital Management LLC lifted its stake in shares of CNX Resources by 0.5% in 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 purchasing an additional 522 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of 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 purchasing an additional 590 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in shares of CNX Resources by 0.4% in the 4th 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 purchasing an additional 945 shares during the last quarter. M&T Bank Corp lifted its stake in shares of CNX Resources by 10.5% in the 4th quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock valued at $214,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position 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 worth $51,000 after acquiring an additional 1,136 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.