CNX Resources Co. (NYSE:CNX) Receives Average Recommendation of “Strong Sell” from Brokerages

Shares of CNX Resources Co. (NYSE:CNX) have been given an average recommendation of “Strong Sell” by the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $30.50.

A number of equities research analysts have commented on the stock. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Monday, October 14th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Bank of America began coverage on CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 target price for the company. Finally, Piper Sandler increased their price target on shares of CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research note on Friday, December 6th.

Institutional Trading of CNX Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arkadios Wealth Advisors purchased a new stake in shares of CNX Resources in the second quarter valued at about $327,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CNX Resources by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,929 shares of the oil and gas producer’s stock worth $946,000 after acquiring an additional 3,052 shares during the period. Innealta Capital LLC purchased a new position in shares of CNX Resources in the 2nd quarter valued at approximately $131,000. Heritage Family Offices LLP acquired a new position in shares of CNX Resources in the second quarter valued at approximately $226,000. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of CNX Resources during the second quarter worth approximately $97,200,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Up 1.2 %

NYSE:CNX opened at $37.05 on Thursday. The stock has a fifty day moving average price of $37.55 and a 200 day moving average price of $31.18. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. CNX Resources has a 12-month low of $19.07 and a 12-month high of $41.93. The firm has a market cap of $5.53 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter last year, the business posted $0.35 EPS. Sell-side analysts anticipate that CNX Resources will post 1.54 earnings per share for the current fiscal year.

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.