CNX Resources (NYSE:CNX) Shares Gap Down - Time to Sell?

Shares of CNX Resources Co. (NYSE:CNX - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $36.57, but opened at $35.35. CNX Resources shares last traded at $35.61, with a volume of 206,281 shares changing hands.

Wall Street Analysts Forecast Growth

CNX has been the subject of a number of research analyst reports. Mizuho raised their price target on CNX Resources from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Tudor Pickering upgraded CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. BMO Capital Markets lifted their price target on CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a report on Friday, October 4th. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 3rd. Finally, Scotiabank lifted their price target on CNX Resources from $25.00 to $27.00 and gave the company a "sector underperform" rating in a report on Tuesday, August 20th. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $28.60.

CNX Resources Stock Down 3.7 %

The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 6.63 and a beta of 1.38. 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 50 day moving average price of $30.89 and a two-hundred day moving average price of $26.99.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period in the previous year, the company posted $0.35 EPS. On average, equities analysts expect that CNX Resources Co. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company's stock, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors have recently made changes to their positions in CNX. GAMMA Investing LLC increased its holdings in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock valued at $46,000 after acquiring an additional 666 shares during the last quarter. Hexagon Capital Partners LLC increased its position in CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer's stock worth $51,000 after buying an additional 1,136 shares during the period. Blue Trust Inc. increased its position in CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock worth $64,000 after buying an additional 1,131 shares during the period. CWM LLC increased its position in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after buying an additional 935 shares during the period. Finally, Natixis acquired a new stake in CNX Resources in the first quarter worth $79,000. 95.16% of the stock is 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.