CNX Resources (NYSE:CNX) PT Raised to $27.00

CNX Resources (NYSE:CNX) had its price target hoisted by Scotiabank from $25.00 to $27.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a sector underperform rating on the oil and gas producer’s stock.

A number of other analysts also recently issued reports on the company. Truist Financial raised their target price on CNX Resources from $30.00 to $31.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Stephens restated an equal weight rating and issued a $27.00 price objective on shares of CNX Resources in a research note on Monday, July 15th. Mizuho increased their target price on shares of CNX Resources from $25.00 to $29.00 and gave the stock a neutral rating in a research report on Monday, May 13th. Piper Sandler lowered shares of CNX Resources from a neutral rating to an underweight rating and lowered their price target for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Finally, StockNews.com downgraded shares of CNX Resources from a hold rating to a sell rating in a report on Saturday, August 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $25.57.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $27.47 on Tuesday. The company has a market capitalization of $4.21 billion, a P/E ratio of 4.97 and a beta of 1.37. The company’s 50-day moving average is $25.39 and its 200 day moving average is $23.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $27.50.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The firm had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. During the same period in the previous year, the company earned $0.29 earnings per share. On average, equities research analysts forecast that CNX Resources will post 1.36 earnings per share for the current year.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Markets Americas LLC bought a new position in shares of CNX Resources in the second quarter worth $97,200,000. American Century Companies Inc. increased its stake in CNX Resources by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after acquiring an additional 397,729 shares during the last quarter. LSV Asset Management raised its holdings in shares of CNX Resources by 1.4% in the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock valued at $43,276,000 after acquiring an additional 23,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CNX Resources by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock valued at $29,107,000 after acquiring an additional 9,356 shares during the last quarter. Finally, Tributary Capital Management LLC grew its holdings in shares of CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock worth $21,917,000 after purchasing an additional 2,535 shares in the last quarter. 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.