CNX Resources (NYSE:CNX) Price Target Lowered to $31.00 at Morgan Stanley

CNX Resources (NYSE:CNX) had its target price reduced by Morgan Stanley from $32.00 to $31.00 in a report issued on Tuesday,Benzinga reports. They currently have an underweight rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on CNX. TD Cowen raised CNX Resources to a “hold” rating in a research report on Monday, July 7th. Weiss Ratings reissued a “hold (c)” rating on shares of CNX Resources in a research report on Saturday, September 27th. Siebert Williams Shank began coverage on CNX Resources in a research report on Monday, September 15th. They issued a “hold” rating and a $32.00 target price for the company. Zacks Research lowered CNX Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Finally, Barclays decreased their target price on CNX Resources from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, CNX Resources presently has a consensus rating of “Reduce” and an average target price of $32.50.

CNX Resources Price Performance

CNX opened at $31.84 on Tuesday. The stock has a 50-day moving average price of $30.33 and a 200-day moving average price of $31.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The firm has a market cap of $4.50 billion, a PE ratio of 53.97, a P/E/G ratio of 0.30 and a beta of 0.55. CNX Resources has a 1 year low of $27.00 and a 1 year high of $41.93.

Institutional Investors Weigh In On CNX Resources

Large investors have recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of CNX Resources during the 2nd quarter valued at about $29,000. Ameritas Advisory Services LLC bought a new stake in shares of CNX Resources during the 2nd quarter valued at about $32,000. Elevation Point Wealth Partners LLC bought a new position in shares of CNX Resources during the 2nd quarter valued at approximately $46,000. EverSource Wealth Advisors LLC grew its stake in shares of CNX Resources by 393.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after acquiring an additional 1,535 shares during the period. Finally, Sound Income Strategies LLC bought a new position in shares of CNX Resources during the 1st quarter valued at approximately $63,000. 95.16% of the stock is currently owned by institutional investors.

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.