CNX Resources Co. (NYSE:CNX) Given Average Rating of “Reduce” by Analysts

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus recommendation of “Reduce” from the fourteen analysts that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $30.83.

Several equities analysts have recently commented on the company. Truist Financial upped their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Morgan Stanley set a $33.00 price objective on CNX Resources and gave the company an “underweight” rating in a report on Wednesday, March 26th. Stephens raised CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Mizuho decreased their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Bank of America cut their price objective on shares of CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a report on Tuesday.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

Several large investors have recently bought and sold shares of CNX. Bessemer Group Inc. lifted its holdings in shares of CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in CNX Resources in the 4th quarter valued at approximately $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources in the fourth quarter valued at approximately $55,000. Ameriflex Group Inc. bought a new stake in shares of CNX Resources during the fourth quarter worth $88,000. Finally, Principal Securities Inc. increased its holdings in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 691 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 6.2 %

Shares of CNX Resources stock opened at $29.29 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The business has a fifty day simple moving average of $30.03 and a two-hundred day simple moving average of $33.35. CNX Resources has a 1 year low of $22.82 and a 1 year high of $41.93. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of -43.08, a P/E/G ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that CNX Resources will post 2.18 EPS for the current year.

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.