CNX Resources Corp (CNX) Given Average Recommendation of “Hold” by Analysts
Shares of CNX Resources Corp (NYSE:CNX) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.50.
Several equities research analysts recently issued reports on CNX shares. Tudor Pickering upgraded CNX Resources from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. ValuEngine upgraded CNX Resources from a “strong sell” rating to a “sell” rating in a report on Friday, May 4th. Zacks Investment Research upgraded CNX Resources from a “sell” rating to a “hold” rating in a report on Monday, March 12th. Finally, Stifel Nicolaus started coverage on CNX Resources in a report on Tuesday, May 22nd. They issued a “hold” rating and a $18.00 price objective on the stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNX. Stratos Wealth Partners LTD. purchased a new position in CNX Resources in the 1st quarter worth approximately $118,000. Point72 Asia Hong Kong Ltd purchased a new position in CNX Resources in the 1st quarter worth approximately $123,000. Gargoyle Investment Advisor L.L.C. purchased a new position in CNX Resources in the 1st quarter worth approximately $170,000. Sciencast Management LP purchased a new position in CNX Resources in the 1st quarter worth approximately $174,000. Finally, TNB Financial purchased a new position in CNX Resources in the 4th quarter worth approximately $176,000. 96.10% of the stock is currently owned by institutional investors and hedge funds.
CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, May 3rd. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.07. CNX Resources had a return on equity of 1.36% and a net margin of 37.74%. The company had revenue of $496.00 million for the quarter, compared to analysts’ expectations of $408.68 million. During the same period in the previous year, the firm posted $0.17 EPS. CNX Resources’s revenue was up 55.0% compared to the same quarter last year. sell-side analysts expect that CNX Resources will post 0.61 earnings per share for the current fiscal year.
About CNX Resources
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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