Piper Sandler Cuts CNX Resources (NYSE:CNX) Price Target to $24.00

CNX Resources (NYSE:CNX) had its target price decreased by Piper Sandler from $26.00 to $24.00 in a report released on Thursday morning,Benzinga reports. Piper Sandler currently has an underweight rating on the oil and gas producer’s stock.

Other research analysts have also recently issued reports about the stock. Barclays assumed coverage on shares of CNX Resources in a research note on Monday, July 7th. They set an “equal weight” rating and a $33.00 price objective for the company. Scotiabank restated a “sector perform” rating and set a $35.00 price objective (up from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. TD Cowen upgraded CNX Resources to a “hold” rating in a research report on Monday, July 7th. Cowen restated a “hold” rating on shares of CNX Resources in a research report on Friday, April 25th. Finally, Mizuho lifted their price objective on CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 13th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.77.

CNX Resources Stock Up 0.3%

Shares of NYSE CNX opened at $28.81 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 48.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.64. The firm has a 50-day moving average price of $32.01 and a 200 day moving average price of $31.02. CNX Resources has a 52 week low of $26.43 and a 52 week high of $41.93.

Institutional Trading of CNX Resources

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of CNX Resources by 11.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock valued at $127,000 after buying an additional 389 shares during the period. Hodges Capital Management Inc. grew its stake in shares of CNX Resources by 6.2% during the 1st quarter. Hodges Capital Management Inc. now owns 6,900 shares of the oil and gas producer’s stock valued at $217,000 after buying an additional 400 shares during the period. State of Alaska Department of Revenue grew its stake in shares of CNX Resources by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer’s stock valued at $548,000 after buying an additional 415 shares during the period. Fox Run Management L.L.C. grew its stake in shares of CNX Resources by 2.7% during the 1st quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer’s stock valued at $514,000 after buying an additional 432 shares during the period. Finally, Pullen Investment Management LLC grew its stake in shares of CNX Resources by 1.3% during the 2nd quarter. Pullen Investment Management LLC now owns 33,068 shares of the oil and gas producer’s stock valued at $1,114,000 after buying an additional 435 shares during the period. 95.16% of the stock is 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.