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

Shares of CNX Resources Co. (NYSE:CNX) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.43.

A number of analysts have recently commented on CNX shares. Bank of America raised shares of 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. Roth Mkm increased their target price on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Piper Sandler raised their target price on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday. Scotiabank boosted their price target on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th. Finally, Mizuho increased their price objective on CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th.

Insider Buying and Selling

In related news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction that occurred on 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 owns 67,982 shares in the company, valued at $1,416,065.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CNX Resources

Institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in CNX Resources during the third quarter worth $26,000. BluePath Capital Management LLC acquired a new position in CNX Resources during the 3rd quarter worth $32,000. Castleview Partners LLC acquired a new position in CNX Resources during the 3rd quarter worth $41,000. KBC Group NV acquired a new position in CNX Resources during the 4th quarter worth $44,000. Finally, Hexagon Capital Partners LLC grew its stake in CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,136 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $24.02 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43. CNX Resources has a 12-month low of $14.36 and a 12-month high of $24.82. The business’s 50 day moving average is $22.16 and its two-hundred day moving average is $21.35. The company has a market capitalization of $3.68 billion, a P/E ratio of 2.64 and a beta of 1.33.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, topping the consensus estimate of $0.30 by $2.59. The business 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 9.00% and a net margin of 50.34%. The business’s quarterly revenue was down 38.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 EPS. Analysts expect that CNX Resources will post 1.31 EPS for the current fiscal year.

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.