CNX Resources (NYSE:CNX) Stock Rating Upgraded by StockNews.com

CNX Resources (NYSE:CNX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

A number of other equities analysts have also recently weighed in on CNX. Piper Sandler cut their price target on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, January 29th. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. Mizuho reduced their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 price target for the company. Finally, Stephens increased their price target on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $29.67.

CNX Resources Price Performance

CNX traded up $0.22 on Monday, reaching $27.60. 4,199,544 shares of the company’s stock were exchanged, compared to its average volume of 4,374,445. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The stock’s fifty day moving average price is $34.10 and its 200-day moving average price is $32.25. The stock has a market cap of $4.12 billion, a PE ratio of -40.59, a P/E/G ratio of 0.36 and a beta of 1.38. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Sell-side analysts expect that CNX Resources will post 2.36 EPS for the current year.

Insider Buying and Selling at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.65% of the stock is currently owned by corporate insiders.

Institutional Trading of CNX Resources

Institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CNX Resources by 311.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after purchasing an additional 466,694 shares during the period. Empirical Asset Management LLC purchased a new stake in CNX Resources in the 4th quarter worth $9,281,000. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 12.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after purchasing an additional 202,890 shares during the last quarter. Empowered Funds LLC boosted its stake in CNX Resources by 328.0% during the 4th quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock worth $7,764,000 after purchasing an additional 162,247 shares during the last quarter. Finally, Riverwater Partners LLC boosted its position in CNX Resources by 124.2% during the third quarter. Riverwater Partners LLC now owns 146,363 shares of the oil and gas producer’s stock worth $4,839,000 after acquiring an additional 81,092 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.