CNX Resources (NYSE:CNX) Price Target Cut to $32.00 by Analysts at Barclays

CNX Resources (NYSE:CNX) had its price target reduced by Barclays from $33.00 to $32.00 in a research note released on Tuesday, MarketBeat reports. Barclays currently has an equal weight rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently issued reports on the company. Scotiabank restated a “sector perform” rating and issued a $35.00 target price (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Piper Sandler decreased 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. Siebert Williams Shank assumed coverage on CNX Resources in a report on Monday, September 15th. They issued a “hold” rating and a $32.00 target price on the stock. Mizuho upgraded CNX Resources from an “underperform” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $34.00 in a report on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CNX Resources in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $31.77.

CNX Resources Stock Up 0.7%

Shares of CNX stock opened at $33.56 on Tuesday. CNX Resources has a 1 year low of $27.00 and a 1 year high of $41.93. The stock has a market cap of $4.75 billion, a PE ratio of 56.87, a price-to-earnings-growth ratio of 0.30 and a beta of 0.55. The business’s fifty day moving average is $30.02 and its 200-day moving average is $31.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of CNX Resources by 4.4% during the first quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer’s stock valued at $502,178,000 after buying an additional 665,289 shares in the last quarter. Southeast Asset Advisors LLC grew its stake in CNX Resources by 0.3% in the second quarter. Southeast Asset Advisors LLC now owns 2,414,955 shares of the oil and gas producer’s stock valued at $81,336,000 after purchasing an additional 6,930 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in CNX Resources by 16.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock valued at $47,152,000 after purchasing an additional 200,000 shares in the last quarter. Nuveen LLC purchased a new position in CNX Resources in the first quarter valued at about $35,567,000. Finally, AQR Capital Management LLC grew its stake in CNX Resources by 112.2% in the second quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer’s stock valued at $33,932,000 after purchasing an additional 532,770 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.