StockNews.com Upgrades CNX Resources (NYSE:CNX) to “Hold”

StockNews.com upgraded shares of CNX Resources (NYSE:CNX) from a sell rating to a hold rating in a research report sent to investors on Monday.

Other research analysts also recently issued reports about the company. Piper Sandler reduced their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Mizuho lowered 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, January 14th. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research report on Monday, October 14th. Finally, Morgan Stanley assumed coverage on CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 price target for the company. Eight investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $29.67.

CNX Resources Stock Up 0.8 %

NYSE:CNX opened at $27.60 on Monday. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of -40.59, a price-to-earnings-growth ratio of 0.36 and a beta of 1.38. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $34.10 and its two-hundred day moving average price is $32.25.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Equities research analysts expect that CNX Resources will post 2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.65% of the company’s stock.

Institutional Trading of CNX Resources

Several large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in CNX Resources by 311.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after buying an additional 466,694 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of CNX Resources in the 4th quarter worth about $9,281,000. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after acquiring an additional 202,890 shares in the last quarter. Empowered Funds LLC boosted its position in shares of CNX Resources by 328.0% during the 4th quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock valued at $7,764,000 after purchasing an additional 162,247 shares in the last quarter. Finally, Riverwater Partners LLC grew its stake in CNX Resources by 124.2% during the third quarter. Riverwater Partners LLC now owns 146,363 shares of the oil and gas producer’s stock worth $4,839,000 after purchasing an additional 81,092 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

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.