CNX Resources Co. (NYSE:CNX) Receives Average Recommendation of “Hold” from Analysts

CNX Resources Co. (NYSE:CNX) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $25.57.

CNX has been the topic of a number of analyst reports. Piper Sandler increased their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Mizuho boosted their price objective on shares of CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial boosted their price target on CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Scotiabank raised their price objective on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th.

CNX Resources Stock Down 5.1 %

NYSE CNX opened at $24.89 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 4.51 and a beta of 1.37. The company has a 50 day moving average of $25.27 and a 200-day moving average of $23.33. CNX Resources has a 1-year low of $19.07 and a 1-year high of $27.33.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period in the previous year, the firm earned $0.29 EPS. On average, equities research analysts expect that CNX Resources will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of CNX Resources

Several hedge funds and other institutional investors have recently made changes to their positions in CNX. Legacy Capital Wealth Partners LLC bought a new position in CNX Resources in the 2nd quarter valued at approximately $205,000. Natixis Advisors LLC raised its stake in shares of CNX Resources by 9.1% during the second quarter. Natixis Advisors LLC now owns 40,403 shares of the oil and gas producer’s stock valued at $982,000 after acquiring an additional 3,366 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its holdings in shares of CNX Resources by 17.3% during the second quarter. SeaBridge Investment Advisors LLC now owns 90,639 shares of the oil and gas producer’s stock worth $2,203,000 after purchasing an additional 13,362 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of CNX Resources in the second quarter worth $97,200,000. Finally, Heritage Family Offices LLP acquired a new stake in CNX Resources in the second quarter valued at $226,000. 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.