CNX Resources (NYSE:CNX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of CNX Resources (NYSE:CNX) from a sell rating to a hold rating in a research report report published on Friday morning.

A number of other equities research analysts also recently weighed in on the stock. Mizuho boosted their price objective on shares of CNX Resources from $25.00 to $29.00 and gave the company a neutral rating in a research report on Monday, May 13th. Stephens restated an equal weight rating and issued a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. Scotiabank upped their target price on shares of CNX Resources from $20.00 to $25.00 and gave the stock a sector underperform rating in a research report on Thursday, April 11th. Truist Financial increased their price objective on shares of CNX Resources from $30.00 to $31.00 and gave the company a buy rating in a report on Monday, July 22nd. Finally, Piper Sandler increased their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a neutral rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $25.57.

CNX Resources Stock Performance

Shares of CNX stock opened at $25.36 on Friday. CNX Resources has a 12 month low of $18.42 and a 12 month high of $26.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.51. The firm has a market capitalization of $3.89 billion, a P/E ratio of 4.59 and a beta of 1.37. The company’s fifty day moving average price is $25.13 and its two-hundred day moving average price is $23.07.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The business had revenue of $381.00 million during the quarter, compared to the consensus estimate of $420.13 million. On average, research analysts anticipate that CNX Resources will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of CNX Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNX. Raymond James & Associates lifted its stake in CNX Resources by 2.6% during the fourth quarter. Raymond James & Associates now owns 194,990 shares of the oil and gas producer’s stock valued at $3,900,000 after purchasing an additional 4,963 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of CNX Resources by 15.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,736 shares of the oil and gas producer’s stock valued at $395,000 after acquiring an additional 2,687 shares in the last quarter. Spirit of America Management Corp NY lifted its position in shares of CNX Resources by 65.4% in the 4th quarter. Spirit of America Management Corp NY now owns 21,500 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 8,500 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of CNX Resources in the 4th quarter valued at approximately $717,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of CNX Resources in the 4th quarter valued at approximately $2,176,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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.