CNX Resources Corporation. (NYSE:CNX) Receives $35.67 Average PT from Analysts

Shares of CNX Resources Corporation. (NYSE:CNX) have been given a consensus rating of “Reduce” by the twelve brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $35.6667.

Several equities research analysts recently issued reports on the company. Roth Mkm set a $35.00 price target on CNX Resources and gave the company a “neutral” rating in a research report on Thursday, January 29th. Morgan Stanley reaffirmed an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. Truist Financial assumed coverage on shares of CNX Resources in a report on Tuesday, March 24th. They set a “sell” rating and a $35.00 target price on the stock. Barclays raised their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Monday, March 16th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $44.00 price target on shares of CNX Resources in a report on Wednesday, January 21st.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. sold 46,119 shares of the firm’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 sale, the director owned 177,180 shares of the company’s stock, valued at approximately $7,193,508. This trade represents a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maureen Lally-Green sold 23,631 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were 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 of the company’s stock, valued at $6,701,683.04. This represents a 12.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.03% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Pullen Investment Management LLC increased its holdings in shares of CNX Resources by 1.2% in the 1st quarter. Pullen Investment Management LLC now owns 68,928 shares of the oil and gas producer’s stock worth $2,657,000 after acquiring an additional 845 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of CNX Resources by 101.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,351 shares of the oil and gas producer’s stock valued at $197,000 after purchasing an additional 2,696 shares during the period. Nalls Sherbakoff Group LLC bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $201,000. Rehmann Capital Advisory Group bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $231,000. Finally, Dorsey Wright & Associates acquired a new position in shares of CNX Resources during the fourth quarter worth approximately $5,498,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $38.70 on Wednesday. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 0.31 and a beta of 0.65. CNX Resources has a one year low of $27.72 and a one year high of $43.62. The company’s 50-day simple moving average is $40.09 and its 200-day simple moving average is $37.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44.

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

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.