CNX Resources (NYSE:CNX) Price Target Raised to $35.00

CNX Resources (NYSE:CNX - Free Report) had its price objective increased by Stephens from $26.00 to $35.00 in a research note published on Friday morning, Benzinga reports. Stephens currently has an equal weight rating on the oil and gas producer's stock.

Other equities research analysts have also recently issued reports about the stock. Capital One Financial cut shares of CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 price target for the company. in a research report on Monday, October 14th. StockNews.com lowered shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 3rd. Truist Financial upped their price target on shares of CNX Resources from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Finally, Tudor Pickering upgraded shares of CNX Resources to a "strong sell" rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, CNX Resources has an average rating of "Hold" and a consensus target price of $27.90.

CNX Resources Stock Down 1.7 %

Shares of NYSE:CNX traded down $0.62 during trading hours on Friday, reaching $36.58. The stock had a trading volume of 2,420,944 shares, compared to its average volume of 2,722,182. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 6.63 and a beta of 1.38. The firm's 50 day moving average is $30.89 and its 200-day moving average is $26.96. CNX Resources has a 1 year low of $19.07 and a 1 year high of $37.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 7.51% and a net margin of 26.64%. During the same period last year, the firm earned $0.29 earnings per share. Research analysts predict that CNX Resources will post 1.43 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business's stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CNX Resources

Institutional investors have recently made changes to their positions in the stock. Mizuho Markets Americas LLC acquired a new stake in shares of CNX Resources in the second quarter valued at about $97,200,000. American Century Companies Inc. lifted its position in shares of CNX Resources by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer's stock valued at $89,890,000 after acquiring an additional 397,729 shares during the period. Renaissance Technologies LLC boosted its stake in shares of CNX Resources by 197.0% during the 2nd quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer's stock worth $11,324,000 after acquiring an additional 309,100 shares in the last quarter. LSV Asset Management grew its holdings in shares of CNX Resources by 18.0% in the 1st quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer's stock worth $41,679,000 after acquiring an additional 267,768 shares during the period. Finally, Quantbot Technologies LP grew its holdings in shares of CNX Resources by 533.4% in the 1st quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer's stock worth $6,795,000 after acquiring an additional 241,250 shares during the period. 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.