CNX Resources (NYSE:CNX) Given New $22.00 Price Target at Roth Mkm

CNX Resources (NYSE:CNXFree Report) had its price objective increased by Roth Mkm from $18.00 to $22.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler increased their price objective on shares of CNX Resources from $17.00 to $18.00 and gave the company a neutral rating in a research note on Thursday, March 7th. Mizuho upped their price objective on CNX Resources from $23.00 to $24.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Truist Financial boosted their target price on shares of CNX Resources from $27.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, March 13th. StockNews.com lowered shares of CNX Resources from a hold rating to a sell rating in a research note on Tuesday, December 12th. Finally, Bank of America raised shares of CNX Resources from an underperform rating to a neutral rating and set a $23.00 price target on the stock in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $23.17.

Read Our Latest Analysis on CNX Resources

CNX Resources Stock Down 0.3 %

Shares of NYSE:CNX opened at $23.90 on Tuesday. The business’s 50 day moving average is $21.14 and its 200 day moving average is $21.15. The stock has a market cap of $3.66 billion, a P/E ratio of 2.63, a price-to-earnings-growth ratio of 1.58 and a beta of 1.33. CNX Resources has a 52-week low of $14.36 and a 52-week high of $24.19. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43.

CNX Resources (NYSE:CNXGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $2.59. The business had revenue of $999.50 million for the quarter, compared to the consensus estimate of $401.62 million. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The business’s revenue was down 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 EPS. Sell-side analysts predict that CNX Resources will post 1.48 EPS for the current year.

Insider Buying and Selling at CNX Resources

In related news, EVP Timothy Scott Bedard acquired 1,226 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $20.50 per share, with a total value of $25,133.00. Following the completion of the acquisition, the executive vice president now directly owns 1,226 shares of the company’s stock, valued at $25,133. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 4.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 buying an additional 1,758,826 shares during the last quarter. Southeastern Asset Management Inc. TN raised its holdings in shares of CNX Resources by 19.9% during the first quarter. Southeastern Asset Management Inc. TN now owns 13,758,674 shares of the oil and gas producer’s stock worth $220,414,000 after purchasing an additional 2,279,108 shares during the last quarter. State Street Corp lifted its position in CNX Resources by 15.6% during the first quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock valued at $270,061,000 after purchasing an additional 1,760,214 shares during the period. Invesco Ltd. boosted its holdings in CNX Resources by 11.7% in the third quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock valued at $81,009,000 after purchasing an additional 376,245 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CNX Resources by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,533,370 shares of the oil and gas producer’s stock worth $52,492,000 after purchasing an additional 22,477 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

About CNX Resources

(Get Free Report)

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.

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