CNX Resources Corporation. (NYSE:CNX) Receives Consensus Rating of “Reduce” from Brokerages

Shares of CNX Resources Corporation. (NYSE:CNX) have received an average rating of “Reduce” from the fourteen ratings firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.2727.

CNX has been the topic of a number of recent research reports. 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 price target on the stock. Piper Sandler dropped 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. Barclays raised their price target on CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, October 31st. Scotiabank lifted their price target on CNX Resources from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 21st. Finally, Zacks Research raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $41.03 on Thursday. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.55. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 0.37 and a beta of 0.64. CNX Resources has a 12 month low of $27.00 and a 12 month high of $42.13. The company has a 50-day moving average price of $35.37 and a 200-day moving average price of $32.69.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. The business had revenue of $423.00 million during the quarter, compared to analyst estimates of $408.80 million. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. The firm’s revenue for the quarter was up 37.6% compared to the same quarter last year. As a group, equities analysts anticipate that CNX Resources will post 2.18 EPS for the current year.

Institutional Trading of CNX Resources

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of CNX Resources by 11.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 389 shares in the last quarter. Hodges Capital Management Inc. raised its stake in CNX Resources by 6.2% in the first 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 last quarter. Fox Run Management L.L.C. boosted its holdings in CNX Resources by 2.7% in the first quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer’s stock worth $514,000 after acquiring an additional 432 shares in the last quarter. Pullen Investment Management LLC grew its stake in shares of CNX Resources by 1.3% during the second quarter. Pullen Investment Management LLC now owns 33,068 shares of the oil and gas producer’s stock worth $1,114,000 after acquiring an additional 435 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in shares of CNX Resources by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 30,746 shares of the oil and gas producer’s stock valued at $1,036,000 after acquiring an additional 462 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.