CNX Resources (NYSE:CNX) Given New $29.00 Price Target at BMO Capital Markets

CNX Resources (NYSE:CNX) had its target price lifted by BMO Capital Markets from $26.00 to $29.00 in a research report sent to investors on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of CNX Resources from $26.00 to $27.00 and gave the company a neutral rating in a report on Thursday, September 12th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a hold rating to a sell rating in a report on Tuesday, October 1st. Truist Financial raised their price target on CNX Resources from $31.00 to $38.00 and gave the company a buy rating in a report on Monday, September 30th. Scotiabank boosted their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a sector underperform rating in a research note on Tuesday, August 20th. Finally, StockNews.com lowered CNX Resources from a hold rating to a sell rating in a research note on Saturday, August 3rd. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $27.22.

CNX Resources Trading Up 0.9 %

Shares of CNX stock opened at $34.41 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The firm has a fifty day moving average of $28.22 and a 200-day moving average of $25.85. CNX Resources has a 52-week low of $19.07 and a 52-week high of $34.69. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 6.23 and a beta of 1.38.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The business had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same period in the prior year, the firm posted $0.29 EPS. On average, equities research analysts forecast that CNX Resources will post 1.44 earnings per share for the current fiscal year.

Insider Activity

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Several institutional investors have recently modified their holdings of CNX. Pullen Investment Management LLC boosted its stake in CNX Resources by 2.3% during the 2nd quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after acquiring an additional 623 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 666 shares during the period. Riverwater Partners LLC increased its position in shares of CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock valued at $1,558,000 after buying an additional 676 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after buying an additional 941 shares during the period. Finally, Congress Asset Management Co. MA lifted its holdings in CNX Resources by 0.4% during the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after acquiring an additional 945 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

About CNX Resources

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.