CNX Resources (NYSE:CNX) Upgraded at StockNews.com

CNX Resources (NYSE:CNX) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Several other equities research analysts have also weighed in on CNX. Mizuho increased their target price on shares of CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Scotiabank raised their price objective on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. Roth Mkm increased their price target on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Truist Financial lifted their price objective on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday. Finally, Piper Sandler boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, CNX Resources presently has a consensus rating of “Hold” and an average price target of $25.57.

CNX Resources Trading Up 1.4 %

NYSE CNX traded up $0.34 on Friday, reaching $25.36. The company had a trading volume of 4,432,698 shares, compared to its average volume of 2,829,427. CNX Resources has a 52 week low of $18.42 and a 52 week high of $26.60. The stock’s 50 day moving average is $25.13 and its 200-day moving average is $23.07. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 4.59 and a beta of 1.37.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $381.00 million during the quarter, compared to analysts’ expectations of $420.13 million. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. Equities analysts predict that CNX Resources will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CNX. Raymond James & Associates raised its stake in shares of CNX Resources by 2.6% during the fourth quarter. Raymond James & Associates now owns 194,990 shares of the oil and gas producer’s stock valued at $3,900,000 after acquiring an additional 4,963 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in CNX Resources by 15.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,736 shares of the oil and gas producer’s stock valued at $395,000 after acquiring an additional 2,687 shares in the last quarter. Spirit of America Management Corp NY increased its position in shares of CNX Resources by 65.4% in the fourth quarter. Spirit of America Management Corp NY now owns 21,500 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 8,500 shares during the last quarter. Trust Point Inc. bought a new position in shares of CNX Resources during the 4th quarter valued at about $717,000. Finally, International Assets Investment Management LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at about $2,176,000. 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.