CNX Resources (NYSE:CNX) Cut to Underperform at Mizuho

Mizuho cut shares of CNX Resources (NYSE:CNX) from a neutral rating to an underperform rating in a research note released on Monday, Marketbeat reports. They currently have $38.00 price target on the oil and gas producer’s stock, up from their prior price target of $33.00.

Other equities research analysts also recently issued research reports about the company. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Bank of America initiated coverage on shares of CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price on the stock. BMO Capital Markets boosted their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Eight analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, CNX Resources currently has a consensus rating of “Reduce” and a consensus price target of $30.50.

CNX Resources Stock Down 3.7 %

Shares of NYSE CNX opened at $35.20 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.25 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.85 and a beta of 1.43. CNX Resources has a 52 week low of $19.07 and a 52 week high of $41.93. The business has a 50-day simple moving average of $37.38 and a two-hundred day simple moving average of $30.63.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same period last year, the business earned $0.35 earnings per share. Research analysts anticipate that CNX Resources will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CNX Resources

A number of hedge funds have recently modified their holdings of CNX. Blue Trust Inc. grew its stake in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,131 shares during the last quarter. CWM LLC lifted its stake in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the period. GAMMA Investing LLC boosted its holdings in CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 1,177 shares in the last quarter. Innealta Capital LLC purchased a new position in CNX Resources during the 2nd quarter valued at $131,000. Finally, Atomi Financial Group Inc. bought a new position in CNX Resources in the 3rd quarter worth $202,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.