CNX Resources Co. (NYSE:CNX) Receives Average Rating of “Hold” from Brokerages

Shares of CNX Resources Co. (NYSE:CNXGet Free Report) have received an average recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $23.00.

Several research analysts have recently weighed in on the company. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Mizuho raised CNX Resources from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 3rd. Bank of America raised CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research note on Friday, January 5th. Truist Financial raised CNX Resources from a “hold” rating to a “buy” rating and upped their target price for the stock from $20.00 to $27.00 in a research note on Monday, December 4th. Finally, Piper Sandler reduced their target price on CNX Resources from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th.

Read Our Latest Analysis on CNX

Institutional Trading of CNX Resources

Several large investors have recently made changes to their positions in CNX. Vanguard Group Inc. grew its holdings in CNX Resources by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,448,774 shares of the oil and gas producer’s stock valued at $286,510,000 after buying an additional 1,758,826 shares in the last quarter. Southeastern Asset Management Inc. TN grew its holdings in CNX Resources by 19.9% in the 1st quarter. Southeastern Asset Management Inc. TN now owns 13,758,674 shares of the oil and gas producer’s stock valued at $220,414,000 after buying an additional 2,279,108 shares in the last quarter. State Street Corp grew its holdings in CNX Resources by 15.6% in the 1st quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock valued at $270,061,000 after buying an additional 1,760,214 shares in the last quarter. Invesco Ltd. grew its holdings in CNX Resources by 11.7% in the 3rd quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock valued at $81,009,000 after buying an additional 376,245 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CNX Resources by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,533,370 shares of the oil and gas producer’s stock valued at $52,492,000 after buying an additional 22,477 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Trading Down 2.2 %

Shares of NYSE:CNX opened at $19.75 on Monday. CNX Resources has a 12-month low of $14.36 and a 12-month high of $23.68. The company has a market capitalization of $3.14 billion, a PE ratio of 2.17, a PEG ratio of 2.39 and a beta of 1.31. The business has a 50 day moving average of $20.13 and a two-hundred day moving average of $21.16. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.43.

CNX Resources (NYSE:CNXGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. The company had revenue of $999.50 million during the quarter, compared to the consensus estimate of $401.62 million. CNX Resources had a return on equity of 8.99% and a net margin of 50.34%. CNX Resources’s revenue for the quarter was down 38.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, analysts forecast that CNX Resources will post 1.52 EPS for the current year.

CNX Resources Company Profile

(Get Free Report

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces 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.

Further Reading

Analyst Recommendations for CNX Resources (NYSE:CNX)

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