CNX Resources (NYSE:CNX) PT Raised to $33.00

CNX Resources (NYSE:CNX) had its target price raised by Mizuho from $32.00 to $33.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently commented on CNX. Stephens reissued an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. Truist Financial boosted their price target on CNX Resources from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BMO Capital Markets boosted their price target on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Scotiabank boosted their price target on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, CNX Resources currently has an average rating of “Hold” and an average target price of $27.10.

CNX Resources Price Performance

Shares of NYSE CNX opened at $35.05 on Monday. The stock has a market capitalization of $5.37 billion, a PE ratio of 6.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The business has a fifty day moving average price of $29.74 and a two-hundred day moving average price of $26.46. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $36.96.

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, beating the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period in the previous year, the firm earned $0.29 EPS. As a group, equities analysts predict that CNX Resources will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

Institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its position in shares of CNX Resources by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock valued at $4,629,000 after buying an additional 23,069 shares during the last quarter. Duality Advisers LP grew its position in shares of CNX Resources by 61.1% in the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock valued at $3,112,000 after buying an additional 49,741 shares during the last quarter. Boston Partners bought a new stake in shares of CNX Resources in the 1st quarter valued at about $951,000. Moloney Securities Asset Management LLC bought a new stake in shares of CNX Resources in the 1st quarter valued at about $986,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of CNX Resources by 243.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock valued at $1,723,000 after buying an additional 51,490 shares during the last quarter. 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.