CNX Resources Co. (NYSE:CNX) Receives Consensus Rating of "Strong Sell" from Analysts

CNX Resources Co. (NYSE:CNX - Get Free Report) has been given an average rating of "Strong Sell" by the twelve ratings firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.50.

A number of brokerages have recently issued reports on CNX. Piper Sandler raised their price target on shares of CNX Resources from $20.00 to $23.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Mizuho cut CNX Resources from a "neutral" rating to an "underperform" rating and raised their target price for the stock from $33.00 to $38.00 in a research note on Monday, December 16th. Stephens upped their price target 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. BMO Capital Markets raised their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and upped their target price for the company from $31.00 to $37.00 in a research report on Thursday, December 5th.

Institutional Trading of CNX Resources

Several hedge funds have recently modified their holdings of the stock. World Investment Advisors LLC purchased a new position in CNX Resources in the third quarter worth approximately $534,000. Geode Capital Management LLC raised its holdings in shares of CNX Resources by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock valued at $117,366,000 after purchasing an additional 12,333 shares in the last quarter. M&T Bank Corp lifted its position in shares of CNX Resources by 25.4% during the 3rd quarter. M&T Bank Corp now owns 18,057 shares of the oil and gas producer's stock worth $588,000 after purchasing an additional 3,663 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in shares of CNX Resources during the third quarter worth $212,000. Finally, XTX Topco Ltd purchased a new position in CNX Resources in the third quarter valued at $804,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Price Performance

Shares of NYSE CNX traded down $0.05 during mid-day trading on Thursday, reaching $36.64. The company's stock had a trading volume of 691,827 shares, compared to its average volume of 2,635,959. The stock has a 50-day moving average of $37.53 and a two-hundred day moving average of $31.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The stock has a market capitalization of $5.47 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.85 and a beta of 1.43. CNX Resources has a 1-year low of $19.07 and a 1-year high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, equities research analysts anticipate that CNX Resources will post 1.54 EPS for the current fiscal year.

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.