Piper Sandler Cuts CNX Resources (NYSE:CNX) Price Target to $22.00

CNX Resources (NYSE:CNX) had its price objective cut by Piper Sandler from $23.00 to $22.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an underweight rating on the oil and gas producer’s stock.

A number of other analysts have also issued reports on the stock. Morgan Stanley initiated coverage on shares of CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective on the stock. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target on the stock. Mizuho decreased their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Tudor, Pickering, Holt & Co. lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Truist Financial increased their price target on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Nine equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $29.67.

CNX Resources Price Performance

CNX opened at $27.41 on Wednesday. CNX Resources has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a 50 day moving average of $34.35 and a two-hundred day moving average of $32.16. The company has a market cap of $4.09 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.37 and a beta of 1.42. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. On average, analysts expect that CNX Resources will post 1.6 earnings per share for the current year.

Insider Buying and Selling at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

Institutional Trading of CNX Resources

Large investors have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC increased its holdings in shares of CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the period. Principal Securities Inc. raised its stake in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 691 shares in the last quarter. GAMMA Investing LLC lifted its holdings in CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in CNX Resources in the 4th quarter valued at about $121,000. Institutional investors and hedge funds 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.