CNX Resources (NYSE:CNX) Given New $21.00 Price Target at Piper Sandler

CNX Resources (NYSE:CNX - Get Free Report) had its price objective cut by Piper Sandler from $22.00 to $21.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the oil and gas producer's stock. Piper Sandler's price target would indicate a potential downside of 26.72% from the company's current price.

Several other research analysts have also recently weighed in on CNX. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. Bank of America decreased their price objective on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st. Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a research note on Friday, April 11th. Finally, Roth Capital set a $30.00 price target on shares of CNX Resources in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, CNX Resources has an average rating of "Hold" and a consensus price target of $31.17.

CNX Resources Stock Down 1.4 %

Shares of CNX traded down $0.40 during trading hours on Tuesday, reaching $28.66. 711,391 shares of the stock traded hands, compared to its average volume of 3,123,767. CNX Resources has a 52 week low of $22.82 and a 52 week high of $41.93. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -42.16, a PEG ratio of 0.42 and a beta of 1.33. The stock has a fifty day simple moving average of $30.30 and a 200 day simple moving average of $33.13. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities analysts forecast that CNX Resources will post 2.18 EPS for the current year.

Institutional Trading of CNX Resources

A number of institutional investors have recently added to or reduced their stakes in CNX. State of Alaska Department of Revenue grew its holdings in CNX Resources by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock valued at $548,000 after buying an additional 415 shares in the last quarter. Pullen Investment Management LLC grew its stake in CNX Resources by 1.5% during the first quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock valued at $1,027,000 after acquiring an additional 482 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in CNX Resources by 21.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after acquiring an additional 508 shares during the period. SummerHaven Investment Management LLC lifted its stake in CNX Resources by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 30,284 shares of the oil and gas producer's stock worth $953,000 after purchasing an additional 525 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

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.