CNX Resources Co. (NYSE:CNX) Given Average Rating of "Reduce" by Brokerages

CNX Resources Co. (NYSE:CNX - Get Free Report) has earned a consensus rating of "Reduce" from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.00.

A number of equities research analysts have recently weighed in on the company. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Piper Sandler downgraded CNX Resources from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 3rd. Finally, BMO Capital Markets increased their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a report on Friday, October 4th.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now directly owns 401,820 shares of the company's stock, valued at $10,772,794.20. This trade represents a 22.95 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its position in shares of CNX Resources by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer's stock valued at $4,629,000 after purchasing an additional 23,069 shares during the period. Boston Partners acquired a new stake in shares of CNX Resources in the first quarter valued at approximately $951,000. Bridges Investment Management Inc. acquired a new stake in shares of CNX Resources in the second quarter valued at approximately $916,000. Paralel Advisors LLC purchased a new position in shares of CNX Resources during the second quarter worth approximately $2,338,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CNX Resources by 311.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock valued at $20,087,000 after acquiring an additional 466,694 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Trading Up 0.4 %

CNX stock traded up $0.18 during mid-day trading on Friday, hitting $40.52. 583,959 shares of the company were exchanged, compared to its average volume of 2,178,396. CNX Resources has a 12-month low of $19.07 and a 12-month high of $41.93. The firm has a market capitalization of $6.05 billion, a P/E ratio of 12.74, a PEG ratio of 1.96 and a beta of 1.37. The business has a fifty day simple moving average of $36.09 and a 200-day simple moving average of $29.47. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX - Get Free Report) 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 firm 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 quarter last year, the company posted $0.35 EPS. On average, equities research analysts predict that CNX Resources will post 1.53 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.