CNX Resources Corporation. (NYSE:CNX) Receives $33.27 Average Target Price from Analysts

Shares of CNX Resources Corporation. (NYSE:CNX) have received an average recommendation of “Reduce” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $34.00.

CNX has been the subject of several research analyst reports. Barclays lifted their price target on shares of CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. Zacks Research upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. upgraded CNX Resources from an “underweight” rating to a “neutral” rating and raised their price target for the company from $36.00 to $38.00 in a research note on Monday, December 8th. Mizuho lifted their price objective on CNX Resources from $35.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNX Resources in a research note on Monday, December 8th.

CNX Resources Trading Down 4.3%

CNX opened at $38.46 on Thursday. The stock has a 50-day moving average of $35.63 and a 200 day moving average of $32.80. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.55. CNX Resources has a 12 month low of $27.00 and a 12 month high of $42.13. The firm has a market cap of $5.19 billion, a P/E ratio of 26.89, a P/E/G ratio of 0.36 and a beta of 0.64.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. The company had revenue of $423.00 million during the quarter, compared to analyst estimates of $408.80 million. CNX Resources’s revenue was up 37.6% compared to the same quarter last year. As a group, research analysts forecast that CNX Resources will post 2.18 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNX. State of Wyoming acquired a new position in CNX Resources in the 2nd quarter worth approximately $29,000. Caitlin John LLC acquired a new stake in shares of CNX Resources in the third quarter worth $31,000. Ameritas Advisory Services LLC purchased a new position in shares of CNX Resources during the second quarter worth $32,000. Elevation Point Wealth Partners LLC acquired a new position in CNX Resources during the second quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in CNX Resources by 393.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after purchasing an additional 1,535 shares during 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.