CNX Resources Co. (NYSE:CNX) Receives $24.43 Average PT from Brokerages

CNX Resources Co. (NYSE:CNX) has received a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $24.43.

CNX has been the subject of a number of research analyst reports. Scotiabank lifted their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. Mizuho lifted their target price on shares of CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Roth Mkm lifted their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a report on Friday, January 5th. Finally, Piper Sandler raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 19th.

CNX Resources Stock Up 0.3 %

Shares of CNX opened at $24.01 on Friday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 2.64 and a beta of 1.33. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. CNX Resources has a 12 month low of $14.36 and a 12 month high of $24.82. The company has a 50-day moving average price of $22.59 and a two-hundred day moving average price of $21.42.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The company had revenue of $999.50 million during the quarter, compared to analysts’ expectations of $401.62 million. During the same quarter in the previous year, the company posted $1.64 earnings per share. CNX Resources’s quarterly revenue was down 38.9% compared to the same quarter last year. Equities analysts predict that CNX Resources will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the sale, the executive vice president now owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in shares of CNX Resources during the third quarter worth $26,000. BluePath Capital Management LLC bought a new position in shares of CNX Resources during the third quarter worth $32,000. Castleview Partners LLC bought a new position in shares of CNX Resources during the third quarter worth $41,000. Hexagon Capital Partners LLC boosted its position in shares of CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Adirondack Trust Co. bought a new position in shares of CNX Resources during the third quarter worth $54,000. 95.16% of the stock is owned by institutional investors.

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.