CNX Resources Corp (NYSE:CNX) Given Consensus Recommendation of “Hold” by Brokerages
Shares of CNX Resources Corp (NYSE:CNX) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.60.
Separately, Zacks Investment Research upgraded CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 price target for the company in a research report on Thursday, August 1st.
Shares of CNX stock traded down $0.26 during mid-day trading on Wednesday, reaching $6.90. The stock had a trading volume of 3,041,888 shares, compared to its average volume of 4,166,889. CNX Resources has a 12-month low of $6.14 and a 12-month high of $16.09. The firm has a market capitalization of $1.33 billion, a P/E ratio of 4.51 and a beta of 0.67. The firm’s 50-day moving average is $7.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.72 and a current ratio of 0.74.
In related news, Director Bernard Lanigan, Jr. acquired 198,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average price of $7.56 per share, for a total transaction of $1,496,880.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director J. Palmer Clarkson acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average price of $6.98 per share, with a total value of $139,600.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 497,550 shares of company stock valued at $3,489,382. Company insiders own 2.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CNX. Glassman Wealth Services purchased a new stake in CNX Resources during the 1st quarter worth about $48,000. Signaturefd LLC increased its position in CNX Resources by 386.5% during the 2nd quarter. Signaturefd LLC now owns 6,641 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 5,276 shares in the last quarter. Investors Research Corp purchased a new stake in CNX Resources during the 1st quarter worth about $57,000. Pearl River Capital LLC increased its position in CNX Resources by 1,047.6% during the 1st quarter. Pearl River Capital LLC now owns 5,738 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 5,238 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new stake in CNX Resources during the 2nd quarter worth about $84,000. Hedge funds and other institutional investors own 98.10% of the company’s stock.
CNX Resources Company Profile
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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