CNX Resources Corporation. (NYSE:CNX) Given Consensus Rating of “Reduce” by Brokerages

CNX Resources Corporation. (NYSE:CNX) has been assigned a consensus recommendation of “Reduce” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $35.6667.

A number of research analysts have recently commented on the company. Morgan Stanley reiterated an “underweight” rating on shares of CNX Resources in a research note on Friday, March 27th. Roth Mkm set a $35.00 price target on CNX Resources and gave the company a “neutral” rating in a research note on Thursday, January 29th. Piper Sandler set a $26.00 price target on CNX Resources in a research note on Monday, February 2nd. Truist Financial assumed coverage on CNX Resources in a research note on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price target for the company. Finally, Weiss Ratings upgraded CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, February 11th.

CNX Resources Stock Down 0.5%

Shares of CNX opened at $35.73 on Friday. CNX Resources has a 52 week low of $27.72 and a 52 week high of $43.62. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 0.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.46 and a current ratio of 0.49. The stock has a fifty day moving average of $39.73 and a 200-day moving average of $38.03.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. sold 46,119 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total value of $1,872,431.40. Following the completion of the sale, the director directly owned 177,180 shares in the company, valued at $7,193,508. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William N. Thorndike, Jr. sold 28,800 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the sale, the director owned 426,585 shares of the company’s stock, valued at $16,316,876.25. The trade was a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 98,550 shares of company stock worth $3,907,929 over the last three months. Company insiders own 5.03% of the company’s stock.

Institutional Trading of CNX Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in CNX Resources by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 8,774,069 shares of the oil and gas producer’s stock valued at $338,260,000 after purchasing an additional 28,851 shares during the period. Jennison Associates LLC acquired a new stake in CNX Resources in the first quarter valued at $644,000. Dorsey Wright & Associates increased its holdings in CNX Resources by 64.9% in the first quarter. Dorsey Wright & Associates now owns 246,573 shares of the oil and gas producer’s stock valued at $9,505,000 after purchasing an additional 97,051 shares during the period. Assetmark Inc. increased its holdings in CNX Resources by 1.0% in the first quarter. Assetmark Inc. now owns 150,562 shares of the oil and gas producer’s stock valued at $5,804,000 after purchasing an additional 1,500 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in CNX Resources in the first quarter valued at $1,776,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.