JPMorgan Chase & Co. Cuts CNX Resources (NYSE:CNX) Price Target to $31.00

CNX Resources (NYSE:CNX) had its price target trimmed by JPMorgan Chase & Co. from $32.00 to $31.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Several other equities analysts also recently commented on the stock. Mizuho increased their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Stephens raised their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Scotiabank raised their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Finally, Capital One Financial downgraded shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Monday, October 14th. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.00.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $35.10 on Wednesday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 6.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $31.38 and a 200 day simple moving average of $27.20. CNX Resources has a one year low of $19.07 and a one year high of $37.57.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the prior year, the firm earned $0.35 EPS. Research analysts predict that CNX Resources will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the period. Blue Trust Inc. grew its holdings in 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 period. CWM LLC grew its holdings 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 purchasing an additional 935 shares during the period. Natixis acquired a new stake in CNX Resources in the first quarter worth $79,000. Finally, Innealta Capital LLC acquired a new stake in CNX Resources in the second quarter worth $131,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.