Analysts Set CNX Resources Co. (NYSE:CNX) Price Target at $24.43

CNX Resources Co. (NYSE:CNX) has been given an average rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.43.

CNX has been the topic of several recent research reports. Scotiabank upped their price target on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. Truist Financial raised their target price on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, April 5th. Mizuho boosted their price target on shares of CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a report on Friday, January 5th. Finally, Roth Mkm lifted their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd.

CNX Resources Price Performance

NYSE:CNX opened at $24.10 on Friday. CNX Resources has a 52 week low of $14.36 and a 52 week high of $24.82. The stock’s fifty day moving average is $22.24 and its two-hundred day moving average is $21.36. The company has a market capitalization of $3.69 billion, a P/E ratio of 2.65 and a beta of 1.33. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, topping the consensus estimate of $0.30 by $2.59. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The business had revenue of $999.50 million during the quarter, compared to analyst estimates of $401.62 million. During the same period last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was down 38.9% on a year-over-year basis. Equities analysts expect that CNX Resources will post 1.31 EPS for the current year.

Insider Transactions at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.83, for a total value of $25,537.58. Following the sale, the executive vice president now owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNX. LSV Asset Management raised its position in CNX Resources by 223.4% during the fourth quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock worth $29,787,000 after acquiring an additional 1,028,805 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in CNX Resources during the third quarter worth $19,018,000. AQR Capital Management LLC raised its holdings in shares of CNX Resources by 2,200.5% in the third quarter. AQR Capital Management LLC now owns 676,745 shares of the oil and gas producer’s stock worth $15,281,000 after acquiring an additional 647,328 shares during the last quarter. Invesco Ltd. lifted its position in shares of CNX Resources by 11.7% in the third quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock valued at $81,009,000 after acquiring an additional 376,245 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of CNX Resources by 130.2% during the third quarter. Envestnet Asset Management Inc. now owns 496,495 shares of the oil and gas producer’s stock valued at $11,211,000 after acquiring an additional 280,849 shares during the last quarter. 95.16% of the stock is currently 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.