JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CNX Resources (NYSE:CNX) Stock

CNX Resources (NYSE:CNX - Free Report) had its target price upped by JPMorgan Chase & Co. from $32.00 to $33.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the oil and gas producer's stock.

CNX has been the topic of several other research reports. Mizuho cut their target price on CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. Roth Capital set a $30.00 target price on shares of CNX Resources in a report on Thursday, January 23rd. 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. StockNews.com downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Finally, Truist Financial lifted their target price on CNX Resources from $34.00 to $35.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Nine analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $29.38.

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CNX Resources Stock Up 1.0 %

NYSE CNX traded up $0.29 on Thursday, hitting $30.79. 391,324 shares of the stock were exchanged, compared to its average volume of 2,620,723. CNX Resources has a fifty-two week low of $21.07 and a fifty-two week high of $41.93. The company has a 50-day moving average price of $29.61 and a 200-day moving average price of $32.99. The company has a market cap of $4.58 billion, a PE ratio of -45.26, a PEG ratio of 0.42 and a beta of 1.26. 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 (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 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%. Sell-side analysts anticipate that CNX Resources will post 2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CNX Resources

Several institutional investors have recently made changes to their positions in the stock. Entropy Technologies LP acquired a new stake in shares of CNX Resources in the third quarter valued at about $519,000. Victory Capital Management Inc. boosted its stake in shares of CNX Resources by 2.8% during the 3rd quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer's stock worth $3,191,000 after acquiring an additional 2,663 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter worth approximately $205,000. Natixis Advisors LLC increased its stake in CNX Resources by 3.1% in the 3rd quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer's stock valued at $1,356,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 worth $20,087,000 after purchasing an additional 466,694 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.