CNX Resources (NYSE:CNX) Hits New 12-Month High at $27.33

CNX Resources Co. (NYSE:CNX)’s stock price hit a new 52-week high on Monday . The stock traded as high as $27.33 and last traded at $27.31, with a volume of 1219439 shares trading hands. The stock had previously closed at $26.75.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CNX shares. Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Stephens restated an “equal weight” rating and set a $27.00 price objective on shares of CNX Resources in a research note on Monday, July 15th. Scotiabank raised their target price on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research report on Tuesday. Finally, Mizuho raised their target price on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CNX Resources currently has a consensus rating of “Hold” and an average target price of $25.57.

CNX Resources Trading Down 0.5 %

The firm has a 50-day moving average price of $25.34 and a 200-day moving average price of $23.82. The stock has a market capitalization of $4.10 billion, a PE ratio of 4.85 and a beta of 1.37. 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 for the quarter, topping 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 company had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. During the same quarter last year, the firm posted $0.29 EPS. As a group, equities analysts forecast that CNX Resources Co. will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

Several large investors have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in CNX Resources by 9.8% in the 2nd quarter. Creative Planning now owns 31,265 shares of the oil and gas producer’s stock worth $760,000 after acquiring an additional 2,779 shares during the last quarter. Algert Global LLC purchased a new position in CNX Resources during the 2nd quarter valued at about $375,000. Caxton Associates LP grew its holdings in CNX Resources by 46.5% during the 2nd quarter. Caxton Associates LP now owns 43,854 shares of the oil and gas producer’s stock valued at $1,066,000 after buying an additional 13,914 shares in the last quarter. Bank of Montreal Can grew its holdings in CNX Resources by 2.5% during the 2nd quarter. Bank of Montreal Can now owns 233,515 shares of the oil and gas producer’s stock valued at $5,686,000 after buying an additional 5,797 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in CNX Resources during the 2nd quarter valued at about $326,000. 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.