CNX Resources (NYSE:CNX) Upgraded to "Overweight" at Stephens

Stephens upgraded shares of CNX Resources (NYSE:CNX - Free Report) from an equal weight rating to an overweight rating in a research note published on Tuesday, MarketBeat reports. Stephens currently has $48.00 price target on the oil and gas producer's stock, up from their prior price target of $35.00.

Other equities analysts have also issued reports about the stock. Piper Sandler cut their price objective 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. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Finally, StockNews.com downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Nine analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, CNX Resources presently has an average rating of "Hold" and an average price target of $30.38.

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CNX Resources Stock Down 0.7 %

CNX stock traded down $0.24 during trading on Tuesday, hitting $31.79. 2,789,663 shares of the company's stock traded hands, compared to its average volume of 2,617,044. The firm has a market capitalization of $4.73 billion, a P/E ratio of -46.75, a PEG ratio of 0.42 and a beta of 1.26. The business has a fifty day simple moving average of $29.71 and a two-hundred day simple moving average of $33.05. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources has a 1 year low of $22.58 and a 1 year high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) 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%. Sell-side analysts anticipate that CNX Resources will post 2.18 EPS for the current year.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business's 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 completion of the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNX. Woodline Partners LP acquired a new position in CNX Resources during the fourth quarter valued at $71,971,000. Arrowstreet Capital Limited Partnership acquired a new position in CNX Resources during the fourth quarter valued at $37,923,000. Millennium Management LLC lifted its position in CNX Resources by 69.1% during the fourth quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock valued at $42,339,000 after purchasing an additional 471,763 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock valued at $20,087,000 after purchasing an additional 466,694 shares during the period. Finally, Northern Trust Corp lifted its position in CNX Resources by 20.5% during the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock valued at $88,792,000 after purchasing an additional 411,485 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.