CNX Resources Co. (NYSE:CNX) Receives Consensus Rating of “Hold” from Analysts

CNX Resources Co. (NYSE:CNX – Get Rating) has received a consensus recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.43.

CNX has been the topic of several recent research reports. StockNews.com downgraded CNX Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Mizuho reduced their price target on CNX Resources from $18.00 to $16.00 in a report on Friday.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $15.14 on Monday. CNX Resources has a twelve month low of $14.55 and a twelve month high of $24.21. The firm has a market cap of $2.58 billion, a P/E ratio of -14.15, a price-to-earnings-growth ratio of 0.37 and a beta of 1.32. The firm’s 50-day simple moving average is $16.05 and its 200-day simple moving average is $16.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.42 and a current ratio of 0.44.

CNX Resources (NYSE:CNX – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The oil and gas producer reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $5.11. CNX Resources had a negative net margin of 5.36% and a positive return on equity of 21.25%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $510.19 million. During the same period last year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, research analysts expect that CNX Resources will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On CNX Resources

Several institutional investors have recently added to or reduced their stakes in CNX. Point72 Middle East FZE bought a new position in shares of CNX Resources during the fourth quarter valued at about $132,000. Highlander Capital Management LLC grew its stake in CNX Resources by 1.5% in the 4th quarter. Highlander Capital Management LLC now owns 230,850 shares of the oil and gas producer’s stock worth $3,888,000 after buying an additional 3,350 shares in the last quarter. Toroso Investments LLC grew its stake in CNX Resources by 14.6% in the 4th quarter. Toroso Investments LLC now owns 12,253 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 1,560 shares in the last quarter. Squarepoint Ops LLC grew its stake in CNX Resources by 47.3% in the 4th quarter. Squarepoint Ops LLC now owns 479,051 shares of the oil and gas producer’s stock worth $8,067,000 after buying an additional 153,827 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in CNX Resources by 76.8% in the 4th quarter. Mackenzie Financial Corp now owns 24,346 shares of the oil and gas producer’s stock worth $410,000 after buying an additional 10,577 shares in the last quarter. 93.66% of the stock is owned by institutional investors and hedge funds.

CNX Resources Company Profile

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CNX Resources Corp. engages in the exploration, development, production, and acquisition of natural gas properties in the Appalachian Basin. It operates through the following segments: Shale, Coalbed Methane, and Other Gas. The Shale segment refers to primary reserves, production, and capital investments.