CNX Resources (NYSE:CNX) Downgraded to “Sell” at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources (NYSE:CNX) from a hold rating to a sell rating in a report released on Tuesday morning, MarketBeat reports.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of CNX Resources from a hold rating to a sell rating in a research report on Saturday, August 3rd. Piper Sandler cut shares of CNX Resources from a neutral rating to an underweight rating and dropped their target price for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Mizuho boosted their target price on shares of CNX Resources from $30.00 to $32.00 and gave the company a neutral rating in a research report on Monday, September 16th. Truist Financial boosted their target price on shares of CNX Resources from $31.00 to $38.00 and gave the company a buy rating in a research report on Monday. Finally, Scotiabank boosted their target price on shares of CNX Resources from $25.00 to $27.00 and gave the company a sector underperform rating in a research report on Tuesday, August 20th. Five 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.com, CNX Resources has a consensus rating of Hold and an average price target of $27.00.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $34.00 on Tuesday. CNX Resources has a twelve month low of $19.07 and a twelve month high of $34.03. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $27.69 and a two-hundred day simple moving average of $25.57. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 6.16 and a beta of 1.37.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. The business 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 previous year, the company earned $0.29 EPS. Analysts forecast that CNX Resources will post 1.44 EPS for the current year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

A number of institutional investors have recently added to or reduced their stakes in CNX. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 666 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in 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 acquiring an additional 1,136 shares during the last quarter. Natixis bought a new stake in CNX Resources during the 1st quarter worth approximately $79,000. Innealta Capital LLC bought a new stake in CNX Resources during the 2nd quarter worth approximately $131,000. Finally, TFO Wealth Partners LLC boosted its stake in shares of 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 valued at $167,000 after purchasing an additional 8,331 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

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.