Piper Sandler Has Lowered Expectations for CNX Resources (NYSE:CNX) Stock Price

CNX Resources (NYSE:CNX - Free Report) had its target price trimmed by Piper Sandler from $23.00 to $22.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an underweight rating on the oil and gas producer's stock.

Several other brokerages also recently issued reports on CNX. Truist Financial increased their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a "hold" 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. BMO Capital Markets increased their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Stephens raised their price target on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Finally, TD Cowen started coverage on CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target for the company. Nine research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $29.67.

CNX Resources Stock Performance

Shares of CNX stock traded down $0.10 on Wednesday, hitting $27.41. 4,692,734 shares of the stock traded hands, compared to its average volume of 3,871,216. CNX Resources has a 1-year low of $19.07 and a 1-year high of $41.93. 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's fifty day moving average is $34.35 and its 200 day moving average is $32.20. The company has a market capitalization of $4.09 billion, a PE ratio of 8.62, a PEG ratio of 0.37 and a beta of 1.42.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. On average, equities research analysts predict that CNX Resources will post 1.6 earnings per share for the current fiscal year.

Insider Transactions at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 13,925,000 shares of the company's stock, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by insiders.

Institutional Trading of CNX Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Convergence Investment Partners LLC acquired a new position in shares of CNX Resources in the fourth quarter valued at approximately $1,556,000. Principal Financial Group Inc. grew its position in CNX Resources by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 464,860 shares of the oil and gas producer's stock worth $17,046,000 after buying an additional 7,223 shares in the last quarter. Principal Securities Inc. grew its position in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after buying an additional 691 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after purchasing an additional 17,951 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of CNX Resources by 1.3% in the 4th quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer's stock valued at $18,138,000 after purchasing an additional 6,404 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

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.