CNX Resources (NYSE:CNX) Now Covered by Truist Financial

Truist Financial began coverage on shares of CNX Resources (NYSE:CNX) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a sell rating and a $35.00 price target on the oil and gas producer’s stock.

Other analysts have also recently issued research reports about the stock. Roth Mkm set a $35.00 target price on shares of CNX Resources and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Morgan Stanley increased their price target on shares of CNX Resources from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. Scotiabank restated a “sector perform” rating and issued a $44.00 price objective on shares of CNX Resources in a research report on Wednesday, January 21st. Weiss Ratings raised CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, February 11th. Finally, Piper Sandler set a $26.00 target price on CNX Resources in a research report on Monday, February 2nd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, CNX Resources currently has a consensus rating of “Reduce” and a consensus price target of $34.80.

CNX Resources Price Performance

CNX Resources stock opened at $40.48 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.44 and a quick ratio of 0.41. The business has a 50 day simple moving average of $39.40 and a 200-day simple moving average of $36.49. CNX Resources has a 12 month low of $27.68 and a 12 month high of $43.62. The stock has a market capitalization of $5.76 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.94. The firm had revenue of $610.48 million for the quarter, compared to analyst estimates of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. CNX Resources’s quarterly revenue was up 347.0% on a year-over-year basis. During the same period last year, the firm posted ($0.97) EPS. Equities analysts predict that CNX Resources will post 2.18 earnings per share for the current year.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. sold 46,119 shares of CNX Resources stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the completion of the transaction, the director owned 177,180 shares of the company’s stock, valued at $7,193,508. The trade was a 20.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

A number of large investors have recently added to or reduced their stakes in CNX. State of Wyoming purchased a new position in CNX Resources during the 2nd quarter valued at about $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of CNX Resources by 56.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 293 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $31,000. Los Angeles Capital Management LLC purchased a new position in shares of CNX Resources during the 4th quarter worth approximately $34,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of CNX Resources during the 2nd quarter worth approximately $46,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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.