Bank of America Cuts CNX Resources (NYSE:CNX) Price Target to $27.00

CNX Resources (NYSE:CNX) had its target price cut by Bank of America from $32.00 to $27.00 in a research note published on Tuesday,Benzinga reports. They currently have an underperform rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the company. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Roth Capital set a $30.00 price target on shares of CNX Resources in a report on Thursday, January 23rd. Mizuho cut their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Finally, Truist Financial raised their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, CNX Resources presently has an average rating of “Reduce” and an average target price of $30.83.

CNX Resources Stock Down 2.3 %

CNX stock opened at $31.22 on Tuesday. The business’s 50-day moving average is $30.01 and its two-hundred day moving average is $33.34. CNX Resources has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -45.91, a P/E/G ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, analysts forecast that CNX Resources will post 2.18 earnings per share for the current year.

Insider Buying and Selling

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of CNX Resources

A number of institutional investors have recently bought and sold shares of CNX. Centaurus Financial Inc. purchased a new position in shares of CNX Resources in the fourth quarter worth about $146,000. Heck Capital Advisors LLC purchased a new stake in shares of CNX Resources during the fourth quarter worth about $121,000. Pullen Investment Management LLC boosted its stake in shares of CNX Resources by 2.7% in the fourth quarter. Pullen Investment Management LLC now owns 32,151 shares of the oil and gas producer’s stock worth $1,179,000 after acquiring an additional 841 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in CNX Resources during the 4th quarter worth $88,000. Finally, GF Fund Management CO. LTD. purchased a new stake in CNX Resources during the 4th quarter valued at about $1,684,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.