CNX Resources (NYSE:CNX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of CNX Resources (NYSE:CNX) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of CNX Resources in a research note on Tuesday, October 14th. Mizuho boosted their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Piper Sandler lowered their price objective on CNX Resources from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, August 14th. Siebert Williams Shank started coverage on CNX Resources in a research note on Monday, September 15th. They issued a “hold” rating and a $32.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $32.67.

CNX Resources Price Performance

NYSE:CNX opened at $34.02 on Tuesday. CNX Resources has a 1-year low of $27.00 and a 1-year high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $31.57 and a 200 day simple moving average of $31.47. The stock has a market capitalization of $4.59 billion, a PE ratio of 57.66, a P/E/G ratio of 0.35 and a beta of 0.56.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds have recently made changes to their positions in CNX. Allspring Global Investments Holdings LLC bought a new stake in shares of CNX Resources during the 1st quarter worth $718,000. Principal Financial Group Inc. grew its holdings in shares of CNX Resources by 1.6% during the first quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer’s stock worth $14,868,000 after purchasing an additional 7,440 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of CNX Resources by 2.9% during the first quarter. Envestnet Asset Management Inc. now owns 109,425 shares of the oil and gas producer’s stock worth $3,445,000 after purchasing an additional 3,128 shares in the last quarter. M&T Bank Corp grew its holdings in shares of CNX Resources by 38.8% during the first quarter. M&T Bank Corp now owns 17,638 shares of the oil and gas producer’s stock worth $556,000 after purchasing an additional 4,933 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its stake in CNX Resources by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer’s stock worth $1,406,000 after buying an additional 23,531 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

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.