CNX Resources (NYSE:CNX) Stock Gets Price Target Boost from Barclays

CNX Resources (NYSE:CNX) had its price objective hoisted by investment analysts at Barclays from $35.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas producer’s stock. Barclays‘s price target would suggest a potential downside of 1.56% from the stock’s current price.

A number of other equities analysts have also weighed in on CNX. Benchmark reissued a “hold” rating on shares of CNX Resources in a research note on Thursday, October 29th. Weiss Ratings upgraded CNX Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Mizuho lowered their price objective on CNX Resources from $42.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 15th. Truist Financial raised their price objective on CNX Resources from $34.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, October 29th. Finally, Morgan Stanley increased their price objective on CNX Resources from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $35.00.

CNX Resources Stock Performance

Shares of CNX traded up $0.17 during mid-day trading on Friday, reaching $36.57. The company had a trading volume of 93,538 shares, compared to its average volume of 1,954,374. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $35.00 and a two-hundred day moving average of $36.38. The stock has a market capitalization of $5.22 billion, a P/E ratio of 6.19 and a beta of 0.61. CNX Resources has a 52-week low of $30.77 and a 52-week high of $43.62.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP grew its holdings in CNX Resources by 5.5% in the second quarter. Allworth Financial LP now owns 6,144 shares of the oil and gas producer’s stock valued at $208,000 after purchasing an additional 323 shares during the period. Signaturefd LLC raised its stake in CNX Resources by 6.5% during the third quarter. Signaturefd LLC now owns 6,426 shares of the oil and gas producer’s stock worth $200,000 after purchasing an additional 390 shares during the period. Choreo LLC boosted its holdings in shares of CNX Resources by 2.9% in the 3rd quarter. Choreo LLC now owns 15,253 shares of the oil and gas producer’s stock valued at $475,000 after purchasing an additional 424 shares during the last quarter. Pullen Investment Management LLC boosted its holdings in shares of CNX Resources by 0.6% in the 3rd quarter. Pullen Investment Management LLC now owns 69,350 shares of the oil and gas producer’s stock valued at $2,162,000 after purchasing an additional 428 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of CNX Resources by 2.3% during the 2nd quarter. QRG Capital Management Inc. now owns 19,987 shares of the oil and gas producer’s stock valued at $678,000 after buying an additional 440 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

CNX Resources Corporation is an independent natural gas company headquartered in Canonsburg, Pennsylvania. It explores for, develops and produces natural gas, primarily from shale formations in the Appalachian Basin, including the Marcellus and Utica. The company’s operations are concentrated in Pennsylvania, West Virginia and Ohio. Its natural gas is supplied to markets that serve residential, commercial and industrial customers, as well as electric power generation. CNX traces its roots to the coal industry and the Consolidation Coal Company, founded in the 19th century.