CNX Resources (NYSE:CNX) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of CNX Resources (NYSE:CNXFree Report) in a research note published on Wednesday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $27.00 price objective on the oil and gas producer’s stock.

CNX has been the subject of a number of other reports. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a report on Monday, October 14th. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut CNX Resources from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Mizuho cut their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday. Finally, Morgan Stanley initiated coverage on shares of CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective for the company. Nine research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus price target of $29.75.

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CNX Resources Stock Performance

CNX Resources stock opened at $30.70 on Wednesday. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 1.09 and a beta of 1.42. The stock has a fifty day moving average of $36.83 and a two-hundred day moving average of $31.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

CNX Resources (NYSE:CNXGet Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The firm had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. During the same quarter last year, the business earned $0.35 earnings per share. On average, analysts anticipate that CNX Resources will post 1.57 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.65% of the stock is owned by insiders.

Institutional Trading of CNX Resources

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its stake in CNX Resources by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after buying an additional 442 shares during the period. CWM LLC grew its holdings in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 935 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of CNX Resources by 3.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after acquiring an additional 941 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of 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. Finally, GAMMA Investing LLC boosted its position in CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 1,177 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

About CNX Resources

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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.

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