CNX Resources Corporation. (NYSE:CNX) Given Consensus Recommendation of “Reduce” by Analysts

Shares of CNX Resources Corporation. (NYSE:CNX) have received a consensus recommendation of “Reduce” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $32.6667.

A number of brokerages recently weighed in on CNX. Piper Sandler decreased their price objective on CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Morgan Stanley reduced their price target on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 14th. Scotiabank boosted their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Zacks Research raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Siebert Williams Shank began coverage on shares of CNX Resources in a research report on Monday, September 15th. They issued a “hold” rating and a $32.00 target price on the stock.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $36.76 on Friday. The company’s fifty day moving average price is $32.54 and its 200-day moving average price is $31.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 62.31, a PEG ratio of 0.35 and a beta of 0.56. CNX Resources has a one year low of $27.00 and a one year high of $41.93.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09. CNX Resources had a return on equity of 8.93% and a net margin of 9.70%.The business had revenue of $423.00 million for the quarter, compared to the consensus estimate of $408.80 million. The business’s revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts anticipate that CNX Resources will post 2.18 earnings per share for the current fiscal year.

Institutional Trading of CNX Resources

A number of institutional investors have recently made changes to their positions in CNX. State of Wyoming purchased a new position in CNX Resources during the second quarter valued at $29,000. Caitlin John LLC bought a new position in shares of CNX Resources in the 3rd quarter worth about $31,000. Ameritas Advisory Services LLC bought a new position in shares of CNX Resources in the 2nd quarter worth about $32,000. Elevation Point Wealth Partners LLC purchased a new position in CNX Resources during the 2nd quarter valued at about $46,000. Finally, EverSource Wealth Advisors LLC boosted its stake in CNX Resources by 393.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after acquiring an additional 1,535 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.