Brokerages Set CNX Resources Corporation. (NYSE:CNX) Price Target at $32.50

Shares of CNX Resources Corporation. (NYSE:CNX) have earned a consensus rating of “Reduce” from the fifteen research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $32.50.

A number of research firms have recently commented on CNX. Scotiabank raised their price target on CNX Resources from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. TD Cowen raised CNX Resources to a “hold” rating in a research report on Monday, July 7th. Piper Sandler dropped their target price on CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Thursday, August 14th. Mizuho lifted their target price on CNX Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CNX Resources in a research report on Tuesday, October 14th.

CNX Resources Trading Down 2.3%

NYSE CNX opened at $31.84 on Wednesday. The firm has a market cap of $4.50 billion, a P/E ratio of 53.96, a P/E/G ratio of 0.34 and a beta of 0.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The stock’s 50-day moving average is $31.02 and its 200-day moving average is $31.35. CNX Resources has a one year low of $27.00 and a one year high of $41.93.

Institutional Investors Weigh In On CNX Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming acquired a new stake in CNX Resources in the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in CNX Resources in the 2nd quarter valued at approximately $32,000. Elevation Point Wealth Partners LLC acquired a new stake in CNX Resources in the 2nd quarter valued at approximately $46,000. EverSource Wealth Advisors LLC raised its position in CNX Resources by 393.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after buying an additional 1,535 shares during the last quarter. Finally, MTM Investment Management LLC acquired a new position in shares of CNX Resources during the 2nd quarter worth approximately $67,000. Institutional investors and hedge funds 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.