Shares of CNX Resources (NYSE:CNX) have been given an average rating of “Hold” by the fifteen analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $24.22.
A number of brokerages have issued reports on CNX. Zacks Investment Research upgraded CNX Resources from a “sell” rating to a “hold” rating in a report on Monday, March 12th. ValuEngine upgraded CNX Resources from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Tudor Pickering upgraded CNX Resources from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, Robert W. Baird raised their target price on CNX Resources from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, January 29th.
Institutional investors and hedge funds have recently modified their holdings of the business. ANTIPODES PARTNERS Ltd increased its position in shares of CNX Resources by 42.9% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 4,384,926 shares of the oil and gas producer’s stock worth $64,151,000 after purchasing an additional 1,316,915 shares during the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new position in shares of CNX Resources during the 4th quarter worth approximately $18,183,000. Kestrel Investment Management Corp acquired a new position in shares of CNX Resources during the 4th quarter worth approximately $9,130,000. First Trust Advisors LP increased its position in shares of CNX Resources by 561.1% during the 4th quarter. First Trust Advisors LP now owns 632,843 shares of the oil and gas producer’s stock worth $9,258,000 after purchasing an additional 537,110 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of CNX Resources by 65.2% during the 4th quarter. Two Sigma Investments LP now owns 1,045,825 shares of the oil and gas producer’s stock worth $15,300,000 after purchasing an additional 412,942 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.
CNX Resources stock traded down $0.01 during mid-day trading on Thursday, hitting $16.21. The stock had a trading volume of 990,599 shares, compared to its average volume of 4,007,399. The stock has a market cap of $3,533.14, a price-to-earnings ratio of -101.25 and a beta of 1.25. CNX Resources has a 12 month low of $11.29 and a 12 month high of $18.08. The company has a quick ratio of 1.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.57.
CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $331.76 million. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.33) earnings per share. sell-side analysts expect that CNX Resources will post 0.52 EPS for the current year.
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About CNX Resources
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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