CNX Resources Corporation. (NYSE:CNX) Receives Average Recommendation of “Reduce” from Brokerages

Shares of CNX Resources Corporation. (NYSE:CNX) have been assigned a consensus recommendation of “Reduce” from the sixteen analysts that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $31.7692.

Several research analysts have commented on the company. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 target price (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Mizuho lifted their target price on CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a report on Tuesday, May 13th. Barclays assumed coverage on CNX Resources in a report on Monday, July 7th. They set an “equal weight” rating and a $33.00 target price on the stock. Piper Sandler cut their target price on CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Finally, TD Cowen raised CNX Resources to a “hold” rating in a report on Monday, July 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CNX. State of Wyoming bought a new position in shares of CNX Resources in the 2nd quarter worth about $29,000. Tower Research Capital LLC TRC raised its position in shares of CNX Resources by 61.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 25,725 shares of the oil and gas producer’s stock worth $866,000 after acquiring an additional 9,810 shares in the last quarter. Tidal Investments LLC raised its position in shares of CNX Resources by 120.0% in the 2nd quarter. Tidal Investments LLC now owns 15,929 shares of the oil and gas producer’s stock worth $536,000 after acquiring an additional 8,690 shares in the last quarter. HRT Financial LP raised its position in shares of CNX Resources by 212.9% in the 2nd quarter. HRT Financial LP now owns 306,803 shares of the oil and gas producer’s stock worth $10,333,000 after acquiring an additional 208,758 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in shares of CNX Resources by 0.7% in the 2nd quarter. Engineers Gate Manager LP now owns 166,377 shares of the oil and gas producer’s stock worth $5,604,000 after acquiring an additional 1,180 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 0.2%

NYSE CNX opened at $29.20 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. CNX Resources has a twelve month low of $26.50 and a twelve month high of $41.93. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 49.48, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60. The business’s fifty day moving average is $31.05 and its 200 day moving average is $31.01.

About CNX Resources

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.