CNX Resources (NYSE:CNX) Price Target Lowered to $31.00 at JPMorgan Chase & Co.

CNX Resources (NYSE:CNX) had its price target decreased by JPMorgan Chase & Co. from $32.00 to $31.00 in a report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas producer’s stock.

Several other equities research analysts have also recently weighed in on CNX. BMO Capital Markets increased their target price on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Capital One Financial downgraded shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Monday, October 14th. Truist Financial cut shares of CNX Resources from a “buy” rating to a “hold” rating and dropped their price target for the company from $38.00 to $34.00 in a research report on Monday, October 28th. Finally, StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, CNX Resources has a consensus rating of “Hold” and an average target price of $29.00.

CNX Resources Stock Down 0.2 %

Shares of NYSE CNX opened at $33.95 on Wednesday. The stock has a market capitalization of $5.07 billion, a P/E ratio of 10.67, a PEG ratio of 1.73 and a beta of 1.38. CNX Resources has a one year low of $19.07 and a one year high of $37.57. The firm’s 50 day simple moving average is $31.65 and its two-hundred day simple moving average is $27.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. The company had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter last year, the firm earned $0.35 EPS. As a group, analysts expect that CNX Resources will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were acquired at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CNX Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 valued at $46,000 after buying an additional 666 shares in the last quarter. Blue Trust Inc. boosted its stake in CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 1,131 shares in the last quarter. CWM LLC grew its holdings in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the period. Natixis bought a new position in shares of CNX Resources during the first quarter valued at approximately $79,000. Finally, Innealta Capital LLC purchased a new position in shares of CNX Resources during the second quarter valued at approximately $131,000. 95.16% of the stock is owned by hedge funds and other 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.