CNX Resources (NYSE:CNX) Upgraded to Market Perform at Raymond James

Raymond James upgraded shares of CNX Resources (NYSE:CNX - Free Report) from an underperform rating to a market perform rating in a research note issued to investors on Tuesday, MarketBeat.com reports.

A number of other equities analysts have also recently issued reports on CNX. TD Cowen initiated coverage on CNX Resources in a report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target on the stock. Piper Sandler lowered their target price on CNX Resources from $23.00 to $22.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 29th. Bank of America began coverage on CNX Resources in a report on Monday, October 28th. They issued an "underperform" rating and a $34.00 target price on the stock. Stephens increased their target price on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Finally, StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Nine analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $29.67.

CNX Resources Trading Down 0.4 %

Shares of CNX Resources stock traded down $0.10 on Tuesday, reaching $29.51. 2,966,066 shares of the company's stock were exchanged, compared to its average volume of 3,940,064. The company has a market capitalization of $4.39 billion, a P/E ratio of -43.39, a price-to-earnings-growth ratio of 0.40 and a beta of 1.38. CNX Resources has a 52 week low of $20.30 and a 52 week high of $41.93. The firm's 50-day moving average is $31.58 and its two-hundred day moving average is $32.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly 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 positive return on equity of 6.72% and a negative net margin of 7.14%. Sell-side analysts predict 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 firm's 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 transaction, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade 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 the SEC website. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On CNX Resources

Several large investors have recently bought and sold shares of CNX. Bessemer Group Inc. raised its stake in shares of CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 526 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources during the 4th quarter worth $39,000. VSM Wealth Advisory LLC bought a new stake in shares of CNX Resources during the 4th quarter worth $55,000. Blue Trust Inc. raised its stake in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,131 shares during the period. Finally, CWM LLC raised its stake in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after purchasing an additional 935 shares during the period. 95.16% of the stock is currently owned by institutional investors.

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.