CNX Resources (NYSE:CNX) Raised to Sector Perform at Scotiabank

CNX Resources (NYSE:CNX - Get Free Report) was upgraded by Scotiabank from a "sector underperform" rating to a "sector perform" rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has a $33.00 price objective on the oil and gas producer's stock. Scotiabank's price objective would indicate a potential upside of 7.77% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Roth Capital set a $30.00 price objective on shares of CNX Resources in a report on Thursday, January 23rd. Piper Sandler dropped their target price on shares of CNX Resources from $23.00 to $22.00 and set an "underweight" rating on the stock in a report on Wednesday, January 29th. Finally, Bank of America decreased their target price on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Eight investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.42.

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CNX Resources Stock Down 0.1 %

NYSE:CNX traded down $0.03 on Friday, reaching $30.62. 2,395,297 shares of the stock traded hands, compared to its average volume of 2,676,194. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of -45.03, a PEG ratio of 0.42 and a beta of 1.33. CNX Resources has a 12 month low of $22.82 and a 12 month high of $41.93. The company's fifty day simple moving average is $30.23 and its 200 day simple moving average is $33.29.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 predict that CNX Resources will post 2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Woodline Partners LP bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $71,971,000. Arrowstreet Capital Limited Partnership purchased a new position in CNX Resources during the fourth quarter valued at $37,923,000. Millennium Management LLC increased its holdings in CNX Resources by 69.1% in the 4th quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock valued at $42,339,000 after acquiring an additional 471,763 shares during the last quarter. Northern Trust Corp lifted its stake in CNX Resources by 20.5% in the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock worth $88,792,000 after purchasing an additional 411,485 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of CNX Resources during the 4th quarter valued at about $14,268,000. 95.16% of the stock is owned by hedge funds and other 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.