MKM Partners started coverage on shares of CNX Resources (NYSE:CNX) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $19.00 price target on the oil and gas producer’s stock. MKM Partners’ target price would indicate a potential upside of 40.43% from the company’s current price.
CNX has been the subject of several other research reports. Zacks Investment Research lowered shares of CNX Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. TheStreet raised shares of CNX Resources from a “d+” rating to a “b” rating in a report on Tuesday, October 30th. ValuEngine lowered shares of CNX Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Goldman Sachs Group lowered shares of CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, Raymond James reissued a “sell” rating on shares of CNX Resources in a report on Thursday, August 30th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.67.
NYSE:CNX opened at $13.53 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.78 billion, a PE ratio of -84.56 and a beta of 0.70. CNX Resources has a 1-year low of $11.69 and a 1-year high of $18.37.
CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas producer reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $376.23 million. CNX Resources had a return on equity of 3.73% and a net margin of 54.81%. CNX Resources’s revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) EPS. Analysts expect that CNX Resources will post 0.97 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new stake in shares of CNX Resources during the third quarter worth $162,000. Tower Research Capital LLC TRC grew its holdings in shares of CNX Resources by 114.1% during the third quarter. Tower Research Capital LLC TRC now owns 14,008 shares of the oil and gas producer’s stock worth $201,000 after buying an additional 7,465 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of CNX Resources during the third quarter worth $237,000. Marshall Wace North America L.P. purchased a new stake in shares of CNX Resources during the third quarter worth $281,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of CNX Resources during the third quarter worth $291,000. 98.11% of the stock is owned by institutional investors.
CNX Resources Company Profile
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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