CNX Resources Co. (NYSE:CNX) Given Average Rating of “Strong Sell” by Brokerages

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus rating of “Strong Sell” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $29.75.

Several analysts recently issued reports on the company. BMO Capital Markets raised their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Bank of America began coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective for the company. TD Cowen began coverage on shares of CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price for the company. Piper Sandler lifted their target price on shares of CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares during the period. CWM LLC lifted its stake in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 935 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 1,177 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in CNX Resources during the third quarter worth about $202,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in CNX Resources during the third quarter worth about $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Down 1.6 %

CNX opened at $30.14 on Monday. The stock has a market cap of $4.50 billion, a PE ratio of 9.48, a P/E/G ratio of 1.09 and a beta of 1.42. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. CNX Resources has a 52 week low of $19.07 and a 52 week high of $41.93. The business’s fifty day simple moving average is $36.53 and its 200 day simple moving average is $32.04.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating 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 business had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts expect that CNX Resources will post 1.57 earnings per share for the current fiscal year.

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.