CNX Resources (NYSE:CNX) Rating Lowered to Sell at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. cut shares of CNX Resources (NYSE:CNX - Free Report) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports.

Other equities research analysts have also issued reports about the stock. Scotiabank increased their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the company a sector underperform rating in a report on Tuesday, August 20th. StockNews.com lowered shares of CNX Resources from a hold rating to a sell rating in a report on Saturday, August 3rd. Piper Sandler lowered shares of CNX Resources from a neutral rating to an underweight rating and cut their price objective for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Stephens reaffirmed an equal weight rating and set a $27.00 price objective on shares of CNX Resources in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the company a neutral rating in a report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $27.00.

CNX Resources Stock Performance

CNX Resources stock traded up $0.11 during midday trading on Tuesday, hitting $32.68. The stock had a trading volume of 1,573,986 shares, compared to its average volume of 2,736,542. The firm's fifty day moving average is $27.38 and its two-hundred day moving average is $25.43. The company has a market capitalization of $5.01 billion, a PE ratio of 5.90 and a beta of 1.37. CNX Resources has a 52-week low of $19.07 and a 52-week high of $32.75. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX - Get Free Report) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. The company had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the prior year, the firm posted $0.29 EPS. On average, research analysts forecast that CNX Resources will post 1.44 EPS for the current year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of CNX Resources

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mizuho Markets Americas LLC bought a new stake in shares of CNX Resources during the second quarter worth $97,200,000. American Century Companies Inc. increased its stake in shares of CNX Resources by 12.0% during the second 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 buying an additional 397,729 shares during the period. LSV Asset Management increased its stake in shares of CNX Resources by 1.4% during the second quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer's stock valued at $43,276,000 after buying an additional 23,800 shares during the period. Tributary Capital Management LLC increased its stake in shares of CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer's stock valued at $21,917,000 after buying an additional 2,535 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of 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 valued at $15,643,000 after buying an additional 66,528 shares during the period. 95.16% of the stock is currently owned by 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.