CNX Resources (NYSE:CNX) Sees Strong Trading Volume - Should You Buy?

CNX Resources Co. (NYSE:CNX - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 1,626,940 shares changed hands during trading, an increase of 23% from the previous session's volume of 1,327,266 shares.The stock last traded at $36.33 and had previously closed at $37.32.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNX. Tudor Pickering upgraded shares of CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. Stephens boosted 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. Capital One Financial downgraded CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 target price for the company. in a research report on Monday, October 14th. JPMorgan Chase & Co. cut CNX Resources from a "neutral" rating to an "underweight" rating and lifted their price target for the company from $31.00 to $37.00 in a research report on Thursday, December 5th. Finally, Mizuho lowered CNX Resources from a "neutral" rating to an "underperform" rating and upped their price objective for the company from $33.00 to $38.00 in a report on Monday, December 16th. Eight investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $30.50.

CNX Resources Stock Performance

The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.42. The firm's 50-day moving average price is $37.55 and its two-hundred day moving average price is $31.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period in the prior year, the company posted $0.35 earnings per share. Sell-side analysts predict that CNX Resources Co. will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its position 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 buying an additional 1,131 shares during the period. CWM LLC grew its holdings 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 worth $70,000 after acquiring an additional 935 shares during the period. GAMMA Investing LLC grew its holdings in CNX Resources by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock worth $100,000 after acquiring an additional 1,177 shares during the period. Atomi Financial Group Inc. bought a new stake in shares of CNX Resources during the 3rd quarter valued at $202,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of CNX Resources in the 2nd quarter valued at $205,000. 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.