CNX Resources Co. (NYSE:CNX) Receives Average Rating of “Hold” from Brokerages

CNX Resources Co. (NYSE:CNX – Get Rating) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $21.86.

Several equities research analysts have recently issued reports on CNX shares. Mizuho assumed coverage on shares of CNX Resources in a research note on Monday, January 9th. They set an “underperform” rating and a $19.00 price target for the company. StockNews.com assumed coverage on CNX Resources in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Truist Financial dropped their price target on CNX Resources from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, October 28th. Finally, Piper Sandler cut their price target on CNX Resources to $19.00 in a research note on Friday, November 4th.

CNX Resources Stock Up 2.3 %

Shares of NYSE:CNX opened at $16.54 on Friday. CNX Resources has a 1 year low of $14.11 and a 1 year high of $24.21. The company has a market capitalization of $2.99 billion, a PE ratio of -4.30, a price-to-earnings-growth ratio of 0.31 and a beta of 1.25. The business has a fifty day moving average price of $16.86 and a two-hundred day moving average price of $17.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.32 and a quick ratio of 0.31.

CNX Resources (NYSE:CNX – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The oil and gas producer reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.72 by ($1.26). CNX Resources had a negative net margin of 29.81% and a positive return on equity of 9.68%. The company had revenue of $476.00 million for the quarter, compared to the consensus estimate of $549.08 million. Analysts forecast that CNX Resources will post 1.51 earnings per share for the current year.

Hedge Funds Weigh In On CNX Resources

Several hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in CNX Resources by 15.6% during the 1st quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock valued at $270,061,000 after buying an additional 1,760,214 shares in the last quarter. Vanguard Group Inc. increased its holdings in CNX Resources by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,448,774 shares of the oil and gas producer’s stock worth $286,510,000 after acquiring an additional 1,758,826 shares during the period. Renaissance Technologies LLC lifted its stake in CNX Resources by 2,477.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,513,616 shares of the oil and gas producer’s stock worth $31,362,000 after purchasing an additional 1,454,887 shares in the last quarter. Point72 Asset Management L.P. bought a new position in CNX Resources in the 3rd quarter valued at $20,068,000. Finally, Deutsche Bank AG grew its position in shares of CNX Resources by 110.5% during the 2nd quarter. Deutsche Bank AG now owns 1,631,995 shares of the oil and gas producer’s stock valued at $26,863,000 after purchasing an additional 856,729 shares in the last quarter. 93.66% of the stock is currently owned by hedge funds and other institutional investors.

About CNX Resources

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CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.