CNX Resources (NYSE:CNX) Downgraded to “Underperform” Rating by Mizuho

Mizuho lowered shares of CNX Resources (NYSE:CNX) from a neutral rating to an underperform rating in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has $38.00 target price on the oil and gas producer’s stock, up from their previous target price of $33.00.

Several other research firms also recently commented on CNX. BMO Capital Markets raised their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Scotiabank boosted their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and increased their price target for the company from $31.00 to $37.00 in a research note on Thursday, December 5th. Bank of America started coverage on CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price target on the stock. Finally, Stephens upped their target price on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, CNX Resources currently has an average rating of “Reduce” and a consensus price target of $30.50.

CNX Resources Stock Performance

NYSE CNX opened at $36.89 on Monday. The company’s fifty day moving average is $37.32 and its two-hundred day moving average is $30.53. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 1.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. CNX Resources has a 52-week low of $19.07 and a 52-week high of $41.93.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter last year, the company earned $0.35 EPS. Equities research analysts forecast that CNX Resources will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tributary Capital Management LLC raised its holdings in shares of CNX Resources by 0.3% in the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after purchasing an additional 2,535 shares during the last quarter. Pullen Investment Management LLC raised its holdings in CNX Resources by 2.3% during the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after acquiring an additional 623 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in CNX Resources during the second quarter valued at approximately $327,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in CNX Resources by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,929 shares of the oil and gas producer’s stock valued at $946,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in CNX Resources during the second quarter worth $131,000. Institutional investors and hedge funds 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.