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

CNX Resources (NYSE:CNX - Free Report) had its target price increased by Truist Financial from $34.00 to $35.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the oil and gas producer's stock.

Several other equities research analysts have also recently weighed in on the stock. Bank of America started coverage on shares of CNX Resources in a research report on Monday, October 28th. They issued an "underperform" rating and a $34.00 price objective for the company. BMO Capital Markets raised their price target on shares of CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a report on Friday, October 4th. Tudor Pickering raised CNX Resources to a "strong sell" rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut CNX Resources from a "neutral" rating to an "underweight" rating and lifted their target price for the company from $31.00 to $37.00 in a research note on Thursday. Finally, Mizuho boosted their target price on CNX Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Seven equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $30.00.

CNX Resources Price Performance

Shares of CNX traded down $1.36 on Friday, hitting $36.82. The company's stock had a trading volume of 2,894,990 shares, compared to its average volume of 1,923,707. The company has a market capitalization of $5.50 billion, a PE ratio of 11.58, a PEG ratio of 1.85 and a beta of 1.43. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The company has a 50 day moving average price of $36.83 and a 200 day moving average price of $29.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

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 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The company had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, research analysts anticipate that CNX Resources will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the purchase, the director now directly owns 401,820 shares of the company's stock, valued at $10,772,794.20. The trade was a 22.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CNX Resources

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased 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 in the last quarter. QRG Capital Management Inc. increased its stake in CNX Resources by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer's stock worth $4,629,000 after purchasing an additional 23,069 shares in the last quarter. Friedenthal Financial acquired a new stake in CNX Resources during the 2nd quarter worth approximately $749,000. Neo Ivy Capital Management bought a new position in CNX Resources in the second quarter valued at approximately $805,000. Finally, Tributary Capital Management LLC lifted its stake in CNX Resources by 0.3% in 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 in the last quarter. Institutional investors own 95.16% of the company's stock.

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.