CNX Resources Corporation. (NYSE:CNX) Receives Average Rating of “Reduce” from Analysts

Shares of CNX Resources Corporation. (NYSE:CNX) have earned a consensus rating of “Reduce” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $34.00.

A number of research analysts have recently commented on CNX shares. Siebert Williams Shank began coverage on shares of CNX Resources in a research report on Monday, September 15th. They set a “hold” rating and a $32.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of CNX Resources in a research note on Monday, December 29th. Barclays upped their target price on CNX Resources from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Scotiabank lifted their price target on CNX Resources from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 21st. Finally, Morgan Stanley decreased their price objective on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 14th.

CNX Resources Stock Performance

NYSE:CNX opened at $34.55 on Monday. CNX Resources has a 52-week low of $27.00 and a 52-week high of $42.13. The business’s fifty day moving average is $37.39 and its 200 day moving average is $33.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.31 and a current ratio of 0.34. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 0.31 and a beta of 0.63.

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 the consensus estimate of $0.37 by $0.09. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.The firm had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $408.80 million. The firm’s quarterly revenue was up 37.6% on a year-over-year basis. Research analysts predict that CNX Resources will post 2.18 EPS for the current year.

Institutional Trading of CNX Resources

Several institutional investors and hedge funds have recently made changes to their positions in CNX. SG Americas Securities LLC increased its stake in CNX Resources by 408.1% in the fourth quarter. SG Americas Securities LLC now owns 179,127 shares of the oil and gas producer’s stock valued at $6,586,000 after acquiring an additional 143,870 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of CNX Resources by 29.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,165 shares of the oil and gas producer’s stock valued at $369,000 after purchasing an additional 2,300 shares during the last quarter. GAMMA Investing LLC lifted its position in CNX Resources by 18.8% in the 4th quarter. GAMMA Investing LLC now owns 3,821 shares of the oil and gas producer’s stock worth $140,000 after buying an additional 606 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in CNX Resources in the third quarter worth approximately $224,000. Finally, CIBC Bancorp USA Inc. bought a new position in CNX Resources during the third quarter valued at approximately $469,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.