CNX Resources (NYSE:CNX) Reaches New 1-Year High at $27.33

CNX Resources Co. (NYSE:CNX) shares hit a new 52-week high on Monday . The company traded as high as $27.33 and last traded at $27.31, with a volume of 1219439 shares changing hands. The stock had previously closed at $26.75.

Analyst Ratings Changes

A number of brokerages have commented on CNX. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Truist Financial increased their price objective on CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Stephens reaffirmed an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. Mizuho increased their price target on CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Thursday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.29.

CNX Resources Price Performance

The firm has a market capitalization of $4.20 billion, a P/E ratio of 4.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The stock’s fifty day simple moving average is $25.30 and its 200 day simple moving average is $23.72.

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

Institutional Trading of CNX Resources

A number of institutional investors have recently made changes to their positions in the business. Pullen Investment Management LLC raised its stake in CNX Resources by 2.3% in the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock valued at $666,000 after buying an additional 623 shares during the last quarter. GAMMA Investing LLC raised its position in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares during the last quarter. Riverwater Partners LLC boosted its stake in CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock worth $1,558,000 after purchasing an additional 676 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after purchasing an additional 941 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its position in CNX Resources by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after purchasing an additional 945 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.