CNX Resources Co. (NYSE:CNX) Receives $30.50 Average PT from Brokerages

Shares of CNX Resources Co. (NYSE:CNX) have been given a consensus rating of “Strong Sell” by the twelve analysts that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $30.50.

CNX has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $31.00 to $37.00 in a report on Thursday, December 5th. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Piper Sandler boosted their price objective on CNX Resources from $20.00 to $23.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Tudor Pickering raised CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Finally, Bank of America started coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target on the stock.

Institutional Trading of CNX Resources

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after buying an additional 202,890 shares in the last quarter. World Investment Advisors LLC purchased a new position in CNX Resources during the 3rd quarter valued at about $534,000. Bridges Investment Management Inc. acquired a new position in CNX Resources in the 2nd quarter valued at about $916,000. Paralel Advisors LLC purchased a new stake in CNX Resources during the second quarter worth about $2,338,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after purchasing an additional 466,694 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $37.05 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. CNX Resources has a 1 year low of $19.07 and a 1 year high of $41.93. The firm has a market capitalization of $5.53 billion, a PE ratio of 11.65, a P/E/G ratio of 1.85 and a beta of 1.43. The business’s 50 day moving average price is $37.55 and its 200-day moving average price is $31.18.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The company had revenue of $424.21 million for 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 quarter in the previous year, the company posted $0.35 EPS. As a group, equities research analysts expect that CNX Resources will post 1.54 earnings per share for the current fiscal year.

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.