Truist Financial Issues Positive Forecast for CNX Resources (NYSE:CNX) Stock Price

CNX Resources (NYSE:CNX) had its price objective boosted by Truist Financial from $34.00 to $35.00 in a report released on Friday morning,Benzinga reports. The firm currently has a hold rating on the oil and gas producer’s stock.

CNX has been the topic of several other research reports. Piper Sandler raised their target price on CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research report on Friday. Scotiabank lifted their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research note on Monday, October 14th. Finally, Tudor, Pickering, Holt & Co. lowered CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Seven equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, CNX Resources currently has an average rating of “Reduce” and a consensus price target of $30.00.

CNX Resources Stock Down 3.6 %

CNX opened at $36.82 on Friday. The company has a fifty day moving average of $36.83 and a two-hundred day moving average of $29.93. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.85 and a beta of 1.43. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same period in the prior year, the business posted $0.35 earnings per share. On average, research analysts expect that CNX Resources will post 1.53 earnings per share for the current year.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This trade represents a 22.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of CNX Resources by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock worth $4,629,000 after buying an additional 23,069 shares during the last quarter. Friedenthal Financial purchased a new position in shares of CNX Resources in the 2nd quarter valued at $749,000. Neo Ivy Capital Management acquired a new stake in CNX Resources during the 2nd quarter worth $805,000. Finally, Tributary Capital Management LLC grew its holdings in shares of CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock worth $21,917,000 after purchasing an additional 2,535 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Company Profile

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.