CNX Resources Co. (NYSE:CNX) Given Average Rating of “Hold” by Analysts

CNX Resources Co. (NYSE:CNX) has earned an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.57.

CNX has been the subject of several recent research reports. Scotiabank lifted their price objective on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday. Stephens reissued an “equal weight” rating and set a $27.00 price objective on shares of CNX Resources in a report on Monday, July 15th. Piper Sandler raised their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Mizuho lifted their price target on CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th.

CNX Resources Price Performance

Shares of CNX opened at $24.89 on Monday. CNX Resources has a 12-month low of $19.07 and a 12-month high of $27.33. The business’s fifty day moving average is $25.27 and its 200 day moving average is $23.27. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.76 billion, a P/E ratio of 4.51 and a beta of 1.37.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The business had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. During the same period in the prior year, the firm posted $0.29 EPS. Sell-side analysts anticipate that CNX Resources will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 666 shares in the last quarter. Hexagon Capital Partners LLC increased its position in CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,136 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in CNX Resources in the fourth quarter worth about $55,000. Natixis purchased a new stake in CNX Resources in the first quarter worth about $79,000. Finally, Innealta Capital LLC bought a new position in shares of CNX Resources in the second quarter worth about $131,000. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Company Profile

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.