CNX Resources Corporation. (NYSE:CNX) Given Consensus Recommendation of “Reduce” by Analysts

CNX Resources Corporation. (NYSE:CNX) has been assigned an average rating of “Reduce” from the sixteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $31.85.

CNX has been the topic of a number of research reports. Barclays assumed coverage on CNX Resources in a research note on Monday, July 7th. They issued an “equal weight” rating and a $33.00 price objective on the stock. Morgan Stanley reiterated an “underweight” rating and set a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Cowen reiterated a “hold” rating on shares of CNX Resources in a research note on Friday, April 25th. Bank of America decreased their price objective on CNX Resources from $32.00 to $27.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 1st. Finally, TD Cowen upgraded CNX Resources to a “hold” rating in a research report on Monday, July 7th.

CNX Resources Stock Performance

Shares of CNX opened at $34.24 on Monday. CNX Resources has a 1 year low of $23.85 and a 1 year high of $41.93. The stock’s fifty day moving average price is $32.74 and its two-hundred day moving average price is $31.09. The firm has a market cap of $4.96 billion, a PE ratio of -16.62, a PEG ratio of 0.34 and a beta of 0.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.27 and a quick ratio of 0.25.

Insider Activity

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the acquisition, the director owned 245,433 shares of the company’s stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its holdings in CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 526 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in CNX Resources during the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC purchased a new stake in CNX Resources during the 4th quarter valued at about $55,000. Harbor Capital Advisors Inc. purchased a new stake in CNX Resources during the 1st quarter valued at about $61,000. Finally, Sound Income Strategies LLC purchased a new stake in CNX Resources during the 1st quarter valued at about $63,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.