CNX Resources (NYSE:CNX) Price Target Raised to $43.00

CNX Resources (NYSE:CNX) had its price objective hoisted by stock analysts at Mizuho from $35.00 to $43.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s target price points to a potential upside of 6.91% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Scotiabank boosted their target price on shares of CNX Resources from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 21st. Barclays boosted their price target on CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, October 31st. JPMorgan Chase & Co. upgraded CNX Resources from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $36.00 to $38.00 in a report on Monday. Piper Sandler dropped their target price on CNX Resources from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, August 14th. Finally, Zacks Research upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $34.00.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $40.22 on Friday. The business’s 50 day simple moving average is $35.52 and its 200-day simple moving average is $32.75. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 0.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31. CNX Resources has a 12 month low of $27.00 and a 12 month high of $42.13.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09. The business had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $408.80 million. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.The business’s quarterly revenue was up 37.6% on a year-over-year basis. As a group, equities analysts forecast that CNX Resources will post 2.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNX. GAMMA Investing LLC raised its position in shares of CNX Resources by 11.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock valued at $127,000 after purchasing an additional 389 shares in the last quarter. Hodges Capital Management Inc. increased its stake in shares of CNX Resources by 6.2% in the first quarter. Hodges Capital Management Inc. now owns 6,900 shares of the oil and gas producer’s stock worth $217,000 after buying an additional 400 shares during the last quarter. Fox Run Management L.L.C. raised its holdings in CNX Resources by 2.7% in the first quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer’s stock valued at $514,000 after acquiring an additional 432 shares in the last quarter. Pullen Investment Management LLC raised its holdings in CNX Resources by 1.3% in the second quarter. Pullen Investment Management LLC now owns 33,068 shares of the oil and gas producer’s stock valued at $1,114,000 after acquiring an additional 435 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in CNX Resources by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 30,746 shares of the oil and gas producer’s stock valued at $1,036,000 after acquiring an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.