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

Shares of CNX Resources Co. (NYSE:CNX) have been given a consensus recommendation of “Reduce” by the twelve research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $29.00.

Several research firms recently issued reports on CNX. Bank of America assumed coverage on CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target on the stock. BMO Capital Markets raised their price target 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. Stephens boosted their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Finally, StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd.

Insider Buying and Selling at CNX Resources

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 22.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake 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 valued at $46,000 after purchasing an additional 666 shares in the last quarter. Blue Trust Inc. boosted its stake in CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC grew its holdings in CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the period. Innealta Capital LLC acquired a new stake in CNX Resources in the 2nd quarter valued at about $131,000. Finally, Atomi Financial Group Inc. acquired a new stake in CNX Resources in the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Price Performance

Shares of CNX stock opened at $40.52 on Friday. The firm has a fifty day moving average of $36.09 and a two-hundred day moving average of $29.43. The firm has a market cap of $6.05 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.95 and a beta of 1.37. CNX Resources has a 1-year low of $19.07 and a 1-year high of $41.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

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 for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The firm had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, research analysts anticipate that CNX Resources will post 1.53 earnings per share for the current fiscal 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.