CNX Resources Co. (NYSE:CNX) Given Consensus Recommendation of “Reduce” by Brokerages

CNX Resources Co. (NYSE:CNX) has been assigned an average rating of “Reduce” from the twelve analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $27.10.

A number of brokerages have recently commented on CNX. Stephens reiterated an “equal weight” rating and issued a $27.00 target price on shares of CNX Resources in a research note on Monday, July 15th. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price 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. Finally, StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of CNX Resources

Large investors have recently bought and sold shares of the company. Mizuho Markets Americas LLC acquired a new position in shares of CNX Resources during the second quarter worth $97,200,000. American Century Companies Inc. increased its stake in CNX Resources by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after buying an additional 397,729 shares during the period. Renaissance Technologies LLC lifted its holdings in CNX Resources by 197.0% in the 2nd quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock worth $11,324,000 after buying an additional 309,100 shares in the last quarter. LSV Asset Management boosted its position in CNX Resources by 18.0% in the 1st quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock valued at $41,679,000 after buying an additional 267,768 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of CNX Resources by 533.4% during the first quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock valued at $6,795,000 after acquiring an additional 241,250 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Price Performance

NYSE:CNX opened at $35.36 on Friday. CNX Resources has a 12-month low of $19.07 and a 12-month high of $36.96. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 6.40 and a beta of 1.38. The company’s 50-day moving average is $29.55 and its two-hundred day moving average is $26.40. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Research analysts expect that CNX Resources will post 1.43 EPS for the current year.

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.