Shares of CNX Resources Co. (NYSE:CNX - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $37.02 and last traded at $36.80, with a volume of 1172290 shares trading hands. The stock had previously closed at $35.85.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on CNX. Scotiabank increased their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a "sector underperform" rating in a research note on Tuesday, August 20th. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Piper Sandler cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Tudor Pickering upgraded CNX Resources to a "strong sell" rating in a research note on Tuesday, October 1st. Finally, Stephens reiterated an "equal weight" rating and issued a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $27.10.
View Our Latest Stock Analysis on CNX Resources
CNX Resources Trading Up 3.8 %
The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 6.49 and a beta of 1.38. The firm's 50-day moving average is $30.48 and its 200 day moving average is $26.80.
CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. The company had revenue of $321.44 million for the quarter, compared to analysts' expectations of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the previous year, the firm posted $0.29 earnings per share. On average, equities analysts predict that CNX Resources Co. will post 1.43 earnings per share for the current fiscal year.
Insider Transactions at CNX Resources
In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company's stock, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.10% of the company's stock.
Hedge Funds Weigh In On CNX Resources
Several institutional investors have recently made changes to their positions in the stock. Gateway Investment Advisers LLC acquired a new position in CNX Resources during the 1st quarter worth approximately $231,000. Hexagon Capital Partners LLC lifted its holdings in shares of CNX Resources by 113.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer's stock worth $51,000 after purchasing an additional 1,136 shares in the last quarter. AlphaMark Advisors LLC grew its position in CNX Resources by 36.7% in the 1st quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer's stock valued at $361,000 after purchasing an additional 4,091 shares during the period. Allspring Global Investments Holdings LLC increased its stake in CNX Resources by 243.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer's stock valued at $1,723,000 after purchasing an additional 51,490 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in CNX Resources by 11.2% during the first quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer's stock worth $15,643,000 after buying an additional 66,528 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.
CNX Resources Company Profile
(
Get Free Report)
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.
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