CNX Resources Co. (NYSE:CNX) Receives $30.83 Average Target Price from Brokerages

CNX Resources Co. (NYSE:CNX - Get Free Report) has been given a consensus rating of "Reduce" by the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $30.92.

A number of brokerages have commented on CNX. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Piper Sandler lowered their price objective on CNX Resources from $23.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, January 29th. TD Cowen assumed coverage on CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 target price on the stock. Roth Capital set a $30.00 price target on shares of CNX Resources in a research report on Thursday, January 23rd. Finally, Morgan Stanley set a $33.00 price objective on shares of CNX Resources and gave the company an "underweight" rating in a research report on Wednesday, March 26th.

CNX Resources Stock Performance

Shares of CNX traded down $0.99 during mid-day trading on Friday, hitting $28.36. The stock had a trading volume of 536,625 shares, compared to its average volume of 2,662,385. CNX Resources has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.18 billion, a PE ratio of -41.78, a PEG ratio of 0.42 and a beta of 1.33. The company's fifty day simple moving average is $30.13 and its two-hundred day simple moving average is $33.29.

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CNX Resources (NYSE:CNX - Get Free Report) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities analysts expect that CNX Resources will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On CNX Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in shares of CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in CNX Resources in the 4th quarter worth about $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources during the 4th quarter worth about $55,000. Ameriflex Group Inc. purchased a new position in CNX Resources during the 4th quarter valued at about $88,000. Finally, Principal Securities Inc. lifted its position in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

About CNX Resources

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.