Shares of CNX Resources Corp (NYSE:CNX) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $14.75.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of CNX Resources from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, April 23rd. TheStreet lowered shares of CNX Resources from a “b-” rating to a “c+” rating in a report on Wednesday, March 6th.
In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 198,000 shares of the stock in a transaction dated Friday, May 31st. The stock was purchased at an average cost of $7.56 per share, for a total transaction of $1,496,880.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $7.50 per share, with a total value of $75,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 277,550 shares of company stock valued at $2,071,782. Company insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in CNX Resources during the 4th quarter valued at $41,498,000. LSV Asset Management raised its holdings in CNX Resources by 291.2% during the 1st quarter. LSV Asset Management now owns 2,138,100 shares of the oil and gas producer’s stock valued at $23,027,000 after buying an additional 1,591,600 shares during the last quarter. Millennium Management LLC raised its holdings in CNX Resources by 25.6% during the 4th quarter. Millennium Management LLC now owns 4,314,333 shares of the oil and gas producer’s stock valued at $49,270,000 after buying an additional 878,654 shares during the last quarter. Two Sigma Investments LP raised its holdings in CNX Resources by 30,865.2% during the 4th quarter. Two Sigma Investments LP now owns 799,896 shares of the oil and gas producer’s stock valued at $9,135,000 after buying an additional 802,496 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in CNX Resources by 140.8% during the 1st quarter. First Trust Advisors LP now owns 1,301,469 shares of the oil and gas producer’s stock valued at $14,017,000 after buying an additional 761,000 shares during the last quarter. Hedge funds and other institutional investors own 95.93% of the company’s stock.
CNX stock traded down $0.35 during midday trading on Tuesday, reaching $6.83. The company had a trading volume of 5,934,120 shares, compared to its average volume of 3,762,375. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.49. CNX Resources has a 1 year low of $6.78 and a 1 year high of $18.37. The company has a market cap of $1.42 billion, a P/E ratio of 4.46 and a beta of 0.79. The company’s 50-day moving average is $7.92.
CNX Resources (NYSE:CNX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.07). CNX Resources had a return on equity of 5.66% and a net margin of 12.00%. The company had revenue of $278.40 million during the quarter, compared to analysts’ expectations of $408.29 million. During the same period in the prior year, the firm earned $0.19 EPS. CNX Resources’s quarterly revenue was down 43.8% on a year-over-year basis. As a group, analysts anticipate that CNX Resources will post 0.67 EPS for the current fiscal year.
CNX Resources Company Profile
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
See Also: Intrinsic Value
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