CNX Resources (NYSE:CNX) Lowered to “Equal Weight” at Capital One Financial

Capital One Financial downgraded shares of CNX Resources (NYSE:CNX) from an overweight rating to an equal weight rating in a report released on Monday morning, Marketbeat Ratings reports. The brokerage currently has $25.00 price objective on the oil and gas producer’s stock. Capital One Financial also issued estimates for CNX Resources’ FY2024 earnings at $1.63 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.55 EPS, FY2025 earnings at $2.17 EPS and FY2026 earnings at $3.05 EPS.

CNX has been the topic of several other reports. Truist Financial upped their price target on CNX Resources from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Scotiabank upped their price target on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Stephens restated an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a research report on Monday, July 15th. BMO Capital Markets upped their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.10.

CNX Resources Price Performance

NYSE CNX opened at $35.36 on Monday. The company has a market cap of $5.42 billion, a PE ratio of 6.40 and a beta of 1.38. CNX Resources has a 52 week low of $19.07 and a 52 week high of $36.96. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $29.55 and its two-hundred day simple moving average is $26.40.

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

Insider Activity

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

Institutional Trading of CNX Resources

A number of institutional investors have recently made changes to their positions in CNX. GAMMA Investing LLC boosted its stake in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares during the period. Hexagon Capital Partners LLC lifted its stake in CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares during the period. CWM LLC lifted its stake in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the period. Natixis purchased a new stake in CNX Resources in the first quarter worth $79,000. Finally, Innealta Capital LLC purchased a new stake in CNX Resources in the second quarter worth $131,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.