StockNews.com Downgrades CNX Resources (NYSE:CNX) to Sell

CNX Resources (NYSE:CNX - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Thursday.

Several other research analysts have also weighed in on CNX. Bank of America started coverage on shares of CNX Resources in a report on Monday, October 28th. They set an "underperform" rating and a $34.00 price objective on the stock. TD Cowen assumed coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target on the stock. JPMorgan Chase & Co. downgraded CNX Resources from a "neutral" rating to an "underweight" rating and upped their price objective for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Morgan Stanley assumed coverage on CNX Resources in a research report on Friday, January 10th. They set an "underweight" rating and a $29.00 price target for the company. Finally, Mizuho cut their price objective on CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $29.67.

CNX Resources Trading Down 0.7 %

NYSE:CNX traded down $0.21 on Thursday, reaching $30.28. The stock had a trading volume of 2,405,007 shares, compared to its average volume of 3,537,056. CNX Resources has a 12-month low of $19.33 and a 12-month high of $41.93. The company has a market cap of $4.52 billion, a price-to-earnings ratio of -44.53, a P/E/G ratio of 0.39 and a beta of 1.38. The firm's fifty day moving average is $32.34 and its two-hundred day moving average is $32.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Equities analysts expect that CNX Resources will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CNX Resources

A number of institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its position in 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 buying an additional 442 shares during the period. Bessemer Group Inc. grew its stake in CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 526 shares in the last quarter. Xponance Inc. increased its holdings in shares of CNX Resources by 2.9% in the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer's stock valued at $766,000 after purchasing an additional 588 shares during the period. Principal Securities Inc. increased its holdings in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after purchasing an additional 691 shares during the period. Finally, SeaBridge Investment Advisors LLC lifted its position in shares of CNX Resources by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer's stock worth $3,311,000 after purchasing an additional 759 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.