CNX Resources (NYSE:CNX) Upgraded at Truist Financial

Truist Financial upgraded shares of CNX Resources (NYSE:CNX) to a strong sell rating in a research report report published on Monday,Zacks.com reports.

CNX has been the subject of a number of other research reports. Roth Mkm set a $35.00 target price on shares of CNX Resources and gave the company a “neutral” rating in a research report on Thursday, January 29th. Scotiabank reaffirmed a “sector perform” rating and issued a $44.00 price objective on shares of CNX Resources in a research note on Wednesday, January 21st. Piper Sandler set a $26.00 price objective on shares of CNX Resources in a research report on Monday, February 2nd. Barclays lifted their target price on shares of CNX Resources from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 16th. Finally, Weiss Ratings upgraded shares of CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $34.80.

CNX Resources Trading Down 0.2%

NYSE CNX opened at $40.36 on Monday. The business’s 50-day moving average price is $39.49 and its two-hundred day moving average price is $36.52. CNX Resources has a 12 month low of $27.68 and a 12 month high of $43.62. The firm has a market capitalization of $5.75 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52.

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

Insider Activity at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. sold 46,119 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total value of $1,872,431.40. Following the transaction, the director directly owned 177,180 shares of the company’s stock, valued at approximately $7,193,508. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maureen Lally-Green sold 23,631 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total value of $933,897.12. Following the transaction, the director owned 169,577 shares in the company, valued at $6,701,683.04. The trade was a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CNX. Dimensional Fund Advisors LP increased its stake in CNX Resources by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,745,218 shares of the oil and gas producer’s stock valued at $321,570,000 after purchasing an additional 118,817 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of CNX Resources by 20.6% during the fourth quarter. Capital Research Global Investors now owns 4,765,039 shares of the oil and gas producer’s stock valued at $175,210,000 after purchasing an additional 815,039 shares during the period. American Century Companies Inc. boosted its position in shares of CNX Resources by 16.3% during the 3rd quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock worth $103,954,000 after purchasing an additional 454,071 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of CNX Resources by 45.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,021,403 shares of the oil and gas producer’s stock valued at $74,327,000 after buying an additional 633,539 shares during the period. Finally, Morgan Stanley grew its stake in shares of CNX Resources by 2.0% in the 4th quarter. Morgan Stanley now owns 1,860,631 shares of the oil and gas producer’s stock valued at $68,415,000 after buying an additional 35,932 shares during the period. 95.16% of the stock is owned by institutional investors.

CNX Resources Company Profile

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.