CNX Resources (NYSE:CNX) Sets New 12-Month High on Analyst Upgrade

CNX Resources Co. (NYSE:CNX)’s stock price reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $31.00 to $38.00. Truist Financial currently has a buy rating on the stock. CNX Resources traded as high as $32.49 and last traded at $32.42, with a volume of 618794 shares changing hands. The stock had previously closed at $31.49.

CNX has been the subject of a number of other research reports. Stephens reissued an “equal weight” rating and issued a $27.00 target price on shares of CNX Resources in a report on Monday, July 15th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Scotiabank raised their target price on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Mizuho raised their target price on CNX Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their target price on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction on Monday, September 9th. The stock was bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by company insiders.

Institutional Trading of CNX Resources

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,136 shares during the period. Natixis purchased a new position in CNX Resources in the 1st quarter worth approximately $79,000. Innealta Capital LLC purchased a new position in CNX Resources in the 2nd quarter worth approximately $131,000. Finally, TFO Wealth Partners LLC boosted its holdings in CNX Resources by 64,084.6% in the 4th quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 8,331 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

The stock has a market cap of $5.00 billion, a PE ratio of 5.92 and a beta of 1.37. The stock has a fifty day simple moving average of $27.53 and a two-hundred day simple moving average of $25.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.29 EPS. Equities analysts anticipate that CNX Resources Co. will post 1.44 EPS for the current fiscal year.

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.