CNX Resources (NYSE:CNX) Rating Increased to Neutral at Mizuho

Mizuho upgraded shares of CNX Resources (NYSE:CNX) from an underperform rating to a neutral rating in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have $34.00 price target on the oil and gas producer’s stock, down from their prior price target of $36.00.

Several other analysts also recently issued reports on the company. Scotiabank restated a “sector perform” rating and issued a $35.00 price target (up from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. 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 target for the company. TD Cowen upgraded CNX Resources to a “hold” rating in a research note on Monday, July 7th. Finally, Piper Sandler dropped their price objective on CNX Resources from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $31.64.

CNX Resources Stock Performance

CNX opened at $30.09 on Monday. The business has a fifty day simple moving average of $30.36 and a 200 day simple moving average of $30.99. The company has a market capitalization of $4.25 billion, a PE ratio of 51.00, a price-to-earnings-growth ratio of 0.27 and a beta of 0.60. CNX Resources has a 1 year low of $27.00 and a 1 year high of $41.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30.

Hedge Funds Weigh In On CNX Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming acquired a new position in CNX Resources in the 2nd quarter worth about $29,000. Ameritas Advisory Services LLC acquired a new position in CNX Resources in the 2nd quarter worth about $32,000. Elevation Point Wealth Partners LLC acquired a new position in CNX Resources in the 2nd quarter worth about $46,000. Harbor Capital Advisors Inc. acquired a new position in CNX Resources in the 1st quarter worth about $61,000. Finally, Sound Income Strategies LLC acquired a new position in CNX Resources in the 1st quarter worth about $63,000. 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.