CNX Resources Co. (NYSE:CNX) Receives Consensus Recommendation of “Hold” from Analysts

CNX Resources Co. (NYSE:CNX) has received a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.00.

A number of analysts recently weighed in on CNX shares. Truist Financial boosted their target price on CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Scotiabank boosted their price objective on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. Roth Mkm boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Mizuho boosted their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, Piper Sandler boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CNX. Dynamic Technology Lab Private Ltd bought a new position in CNX Resources in the fourth quarter valued at about $798,000. Parkwood LLC lifted its holdings in CNX Resources by 11.2% in the fourth quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock valued at $9,809,000 after acquiring an additional 49,278 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of CNX Resources by 243.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock worth $1,723,000 after buying an additional 51,490 shares during the period. New York State Common Retirement Fund raised its stake in shares of CNX Resources by 25.5% in the fourth quarter. New York State Common Retirement Fund now owns 104,131 shares of the oil and gas producer’s stock worth $2,083,000 after buying an additional 21,131 shares during the period. Finally, Comerica Bank bought a new position in shares of CNX Resources in the third quarter worth about $4,054,000. 95.16% of the stock is owned by institutional investors.

CNX Resources Trading Up 2.6 %

NYSE CNX opened at $25.16 on Thursday. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 4.56 and a beta of 1.37. CNX Resources has a one year low of $17.45 and a one year high of $26.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.51. The business’s fifty day moving average is $24.57 and its 200-day moving average is $22.58.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. The company had revenue of $381.00 million during the quarter, compared to analyst estimates of $420.13 million. Equities research analysts predict that CNX Resources will post 1.32 EPS for the current year.

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.