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

CNX Resources Co. (NYSE:CNXGet Free Report) has been given an average recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.40.

Several brokerages recently issued reports on CNX. Truist Financial upped their target price on shares of CNX Resources from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Piper Sandler boosted their price target on shares of CNX Resources from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Bank of America raised CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a research note on Friday, January 5th. Mizuho increased their target price on CNX Resources from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.

Check Out Our Latest Report on CNX

CNX Resources Price Performance

CNX Resources stock opened at $23.97 on Tuesday. The firm has a market capitalization of $3.67 billion, a P/E ratio of 2.64, a PEG ratio of 1.58 and a beta of 1.33. CNX Resources has a one year low of $14.36 and a one year high of $24.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49. The business has a fifty day moving average price of $21.06 and a 200-day moving average price of $21.13.

CNX Resources (NYSE:CNXGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, beating the consensus estimate of $0.30 by $2.59. The company had revenue of $999.50 million during the quarter, compared to analysts’ expectations of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. CNX Resources’s revenue for the quarter was down 38.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 earnings per share. As a group, equities research analysts forecast that CNX Resources will post 1.48 EPS for the current year.

Insider Activity

In other news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.65% of the company’s stock.

Institutional Trading of CNX Resources

Institutional investors have recently made changes to their positions in the business. Neo Ivy Capital Management bought a new stake in CNX Resources in the 3rd quarter valued at $26,000. BluePath Capital Management LLC purchased a new stake in shares of CNX Resources in the third quarter worth about $32,000. Castleview Partners LLC bought a new position in CNX Resources during the third quarter valued at approximately $41,000. KBC Group NV purchased a new position in CNX Resources during the 4th quarter valued at approximately $44,000. Finally, Adirondack Trust Co. bought a new stake in CNX Resources in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About CNX Resources

(Get Free Report

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.

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Analyst Recommendations for CNX Resources (NYSE:CNX)

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