Shares of CNX Resources Co. (NYSE:CNX - Get Free Report) have earned a consensus rating of "Strong Sell" from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $29.75.
CNX has been the subject of several analyst reports. Stephens boosted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. TD Cowen initiated coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price for the company. Morgan Stanley assumed coverage on shares of CNX Resources in a research note on Friday, January 10th. They issued an "underweight" rating and a $29.00 price target on the stock. Truist Financial boosted their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Finally, Capital One Financial cut CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 target price on the stock. in a research report on Monday, October 14th.
Get Our Latest Analysis on CNX Resources
Insiders Place Their Bets
In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.65% of the stock is owned by company insiders.
Hedge Funds Weigh In On CNX Resources
A number of hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its holdings in shares of CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer's stock valued at $428,000 after acquiring an additional 442 shares during the period. CWM LLC raised its stake in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 935 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer's stock valued at $712,000 after purchasing an additional 941 shares during the period. Blue Trust Inc. lifted its holdings in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 1,131 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock worth $100,000 after buying an additional 1,177 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.
CNX Resources Stock Performance
Shares of NYSE:CNX traded down $0.49 during trading on Monday, reaching $30.14. 2,384,745 shares of the company's stock traded hands, compared to its average volume of 2,923,167. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The company has a 50 day moving average of $36.53 and a 200-day moving average of $32.04. CNX Resources has a 12 month low of $19.07 and a 12 month high of $41.93. The stock has a market capitalization of $4.50 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.42.
CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings results 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. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million for the quarter, compared to analysts' expectations of $398.33 million. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities analysts expect that CNX Resources will post 1.57 EPS for the current year.
About CNX Resources
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Get Free ReportCNX 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.
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