CNX Resources (NYSE:CNX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of CNX Resources (NYSE:CNX) from a sell rating to a hold rating in a research note released on Monday.

Several other research firms have also weighed in on CNX. Mizuho reduced their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. Piper Sandler decreased their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, January 29th. Truist Financial raised their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Monday, October 14th. Finally, TD Cowen assumed coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective on the stock. Eight investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, CNX Resources presently has an average rating of “Reduce” and a consensus price target of $29.67.

CNX Resources Stock Performance

CNX Resources stock opened at $27.60 on Monday. The stock has a fifty day moving average price of $34.10 and a 200 day moving average price of $32.25. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. CNX Resources has a 52 week low of $19.07 and a 52 week high of $41.93. The firm has a market capitalization of $4.12 billion, a P/E ratio of -40.59, a PEG ratio of 0.36 and a beta of 1.38.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Equities research analysts anticipate that CNX Resources will post 2.36 earnings per share for the current year.

Insider Activity at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.65% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after buying an additional 202,890 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of CNX Resources in the 3rd quarter valued at $534,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after acquiring an additional 466,694 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after acquiring an additional 442 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of CNX Resources by 829.9% during the third quarter. SG Americas Securities LLC now owns 42,982 shares of the oil and gas producer’s stock valued at $1,400,000 after acquiring an additional 38,360 shares during the period. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Company Profile

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.