CNX Resources (NYSE:CNX) PT Raised to $38.00

CNX Resources (NYSE:CNX) had its price objective boosted by research analysts at Truist Financial from $31.00 to $38.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective points to a potential upside of 16.35% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Scotiabank boosted their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Stephens reissued an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. Piper Sandler lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Mizuho boosted their target price on CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Hold” and an average target price of $27.00.

CNX Resources Price Performance

NYSE CNX opened at $32.66 on Monday. The company has a market cap of $5.00 billion, a PE ratio of 5.92 and a beta of 1.37. CNX Resources has a 52-week low of $19.07 and a 52-week high of $32.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The firm’s 50 day moving average price is $27.53 and its 200-day moving average price is $25.51.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period last year, the business posted $0.29 EPS. Sell-side analysts forecast that CNX Resources will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds have recently modified their holdings of CNX. GAMMA Investing LLC grew its holdings in CNX Resources by 54.1% during the 2nd 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 boosted its holdings in shares of CNX Resources by 113.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 1,136 shares in the last quarter. Natixis acquired a new stake in shares of CNX Resources in the 1st quarter valued at about $79,000. Innealta Capital LLC purchased a new stake in CNX Resources in the 2nd quarter valued at $131,000. Finally, TFO Wealth Partners LLC lifted its position in CNX Resources by 64,084.6% during the 4th quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 8,331 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About CNX Resources

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.