JPMorgan Chase & Co. Lowers CNX Resources (NYSE:CNX) Price Target to $31.00

CNX Resources (NYSE:CNX - Free Report) had its price target lowered by JPMorgan Chase & Co. from $32.00 to $31.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer's stock.

Several other research firms have also commented on CNX. Tudor Pickering upgraded shares of CNX Resources to a "strong sell" rating in a report on Tuesday, October 1st. Bank of America began coverage on CNX Resources in a research note on Monday. They issued an "underperform" rating and a $34.00 price target on the stock. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a research note on Saturday, August 3rd. Finally, Scotiabank lifted their price target on CNX Resources from $25.00 to $27.00 and gave the stock a "sector underperform" rating in a research report on Tuesday, August 20th. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.00.

CNX Resources Stock Up 0.1 %

Shares of NYSE:CNX traded up $0.05 during trading on Wednesday, hitting $35.10. The stock had a trading volume of 2,549,668 shares, compared to its average volume of 2,718,050. The company has a market capitalization of $5.38 billion, a PE ratio of 6.36 and a beta of 1.38. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The firm's fifty day moving average is $31.38 and its 200 day moving average is $27.20. CNX Resources has a 12 month low of $19.07 and a 12 month high of $37.57.

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

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company's stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds have recently added to or reduced their stakes in CNX. GAMMA Investing LLC grew its holdings in shares of CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock worth $46,000 after acquiring an additional 666 shares during the period. Blue Trust Inc. boosted 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 purchasing an additional 1,131 shares during the last quarter. CWM LLC grew its stake in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 935 shares during the period. Natixis purchased a new stake in shares of CNX Resources during the 1st quarter valued at about $79,000. Finally, Innealta Capital LLC purchased a new stake in shares of CNX Resources during the 2nd quarter valued at about $131,000. 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.