Brokerages Set CNX Resources Co. (NYSE:CNX) Price Target at $29.75

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus rating of “Strong Sell” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $29.75.

Several research firms recently issued reports on CNX. Truist Financial increased their price target 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. Mizuho cut their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Piper Sandler upped their price target on CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Morgan Stanley assumed coverage on CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective for the company. Finally, BMO Capital Markets increased their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CNX Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the last quarter. CWM LLC lifted its position in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the period. GAMMA Investing LLC boosted its stake in shares of CNX Resources by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 1,177 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of CNX Resources in the 4th quarter valued at about $121,000. Finally, Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources during the 3rd quarter worth approximately $202,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $28.60 on Monday. CNX Resources has a one year low of $19.07 and a one year high of $41.93. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $35.59 and a 200 day simple moving average of $32.18. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.47 and a beta of 1.42.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter in the prior year, the company posted $0.35 EPS. Sell-side analysts expect that CNX Resources will post 1.59 EPS for the current year.

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.