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

Shares of CNX Resources Corporation. (NYSE:CNX) have been given a consensus rating of “Reduce” by the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of research analysts have recently weighed in on CNX shares. Zacks Research upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upgraded CNX Resources from an “underweight” rating to a “neutral” rating and increased their target price for the company from $36.00 to $38.00 in a report on Monday, December 8th. Siebert Williams Shank began coverage on CNX Resources in a report on Monday, September 15th. They issued a “hold” rating and a $32.00 price target for the company. Barclays upped their price objective on CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNX Resources in a research note on Monday, December 29th.

CNX Resources Stock Down 0.9%

Shares of NYSE CNX opened at $36.42 on Monday. CNX Resources has a 1 year low of $27.00 and a 1 year high of $42.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31. The company has a market capitalization of $4.91 billion, a P/E ratio of 25.47, a P/E/G ratio of 0.32 and a beta of 0.63. The company has a 50 day simple moving average of $37.06 and a 200-day simple moving average of $33.34.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 EPS for the quarter, beating the consensus estimate of $0.37 by $0.09. The company had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $408.80 million. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts predict that CNX Resources will post 2.18 earnings per share for the current year.

Institutional Trading of CNX Resources

Several institutional investors have recently made changes to their positions in CNX. State of Wyoming purchased a new stake in shares of CNX Resources during the second quarter valued at approximately $29,000. Caitlin John LLC purchased a new position in shares of CNX Resources in the third quarter valued at $31,000. Ameritas Advisory Services LLC purchased a new position in shares of CNX Resources in the second quarter valued at $32,000. Elevation Point Wealth Partners LLC acquired a new stake in CNX Resources during the 2nd quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 purchasing an additional 1,535 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

About CNX Resources

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.