CNX Resources (NYSE:CNX) Price Target Raised to $36.00 at Mizuho

CNX Resources (NYSE:CNX) had its price target upped by research analysts at Mizuho from $35.00 to $36.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the oil and gas producer’s stock. Mizuho’s price target points to a potential upside of 11.01% from the company’s current price.

CNX has been the subject of several other reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $31.00 target price on shares of CNX Resources in a report on Tuesday, April 15th. Scotiabank upgraded shares of CNX Resources from a “sector underperform” rating to a “sector perform” rating and set a $33.00 price objective for the company in a report on Friday, April 11th. Bank of America cut their target price on CNX Resources from $32.00 to $27.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 1st. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, March 13th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, CNX Resources currently has a consensus rating of “Hold” and a consensus target price of $31.58.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $32.43 on Tuesday. The company has a market capitalization of $4.69 billion, a PE ratio of -47.69, a PEG ratio of 0.42 and a beta of 0.62. The business has a fifty day moving average price of $30.59 and a 200-day moving average price of $32.67. CNX Resources has a 1-year low of $23.63 and a 1-year high of $41.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

Insider Activity

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the acquisition, the director now owns 245,433 shares in the company, valued at $7,657,509.60. This represents a 4.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its position in shares of CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CNX Resources during the fourth quarter valued at approximately $39,000. VSM Wealth Advisory LLC bought a new position in shares of CNX Resources in the fourth quarter worth approximately $55,000. Harbor Capital Advisors Inc. purchased a new stake in shares of CNX Resources in the first quarter worth $61,000. Finally, Sound Income Strategies LLC bought a new stake in shares of CNX Resources during the 1st quarter valued at $63,000. 95.16% of the stock is currently owned by institutional investors.

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.