Brokerages Set CNX Resources Co. (NYSE:CNX) Price Target at $25.57

CNX Resources Co. (NYSE:CNX) has been given a consensus recommendation of “Reduce” by the seven research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $25.57.

Several research analysts have issued reports on the company. Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Stephens reaffirmed an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. Scotiabank increased their price target on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Mizuho boosted their price objective on CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNX. Creative Planning boosted its stake in shares of CNX Resources by 9.8% during the 2nd quarter. Creative Planning now owns 31,265 shares of the oil and gas producer’s stock valued at $760,000 after buying an additional 2,779 shares during the period. Algert Global LLC purchased a new stake in shares of CNX Resources during the second quarter worth $375,000. Caxton Associates LP boosted its position in CNX Resources by 46.5% during the second quarter. Caxton Associates LP now owns 43,854 shares of the oil and gas producer’s stock valued at $1,066,000 after purchasing an additional 13,914 shares during the last quarter. Bank of Montreal Can grew its stake in CNX Resources by 2.5% in the second quarter. Bank of Montreal Can now owns 233,515 shares of the oil and gas producer’s stock valued at $5,686,000 after purchasing an additional 5,797 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in CNX Resources in the 2nd quarter worth about $326,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

Shares of CNX opened at $27.94 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The firm has a fifty day moving average of $25.74 and a 200-day moving average of $24.13. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 5.06 and a beta of 1.37. CNX Resources has a 1 year low of $19.07 and a 1 year high of $28.23.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, topping the consensus estimate of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The firm had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. As a group, equities analysts anticipate that CNX Resources will post 1.36 earnings per share 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.