Mizuho Downgrades CNX Resources (NYSE:CNX) to Underperform

Mizuho cut shares of CNX Resources (NYSE:CNX) from a neutral rating to an underperform rating in a report released on Monday, MarketBeat.com reports. The firm currently has $38.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $33.00.

Several other equities analysts also recently weighed in on the company. Stephens raised their price target on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Scotiabank raised their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Truist Financial increased their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Monday, October 14th. Eight research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $30.50.

CNX Resources Stock Down 3.7 %

NYSE:CNX opened at $35.20 on Monday. CNX Resources has a 1-year low of $19.07 and a 1-year high of $41.93. The company has a market capitalization of $5.25 billion, a PE ratio of 11.07, a P/E/G ratio of 1.85 and a beta of 1.43. The firm’s 50-day moving average price is $37.38 and its 200-day moving average price is $30.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter last year, the firm earned $0.35 earnings per share. On average, equities analysts predict that CNX Resources will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds have recently modified their holdings of the business. Tributary Capital Management LLC grew its holdings in CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after purchasing an additional 2,535 shares during the period. Pullen Investment Management LLC raised its stake in CNX Resources by 2.3% during the 2nd quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after acquiring an additional 623 shares during the period. Arkadios Wealth Advisors bought a new position in shares of CNX Resources in the second quarter worth approximately $327,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CNX Resources by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,929 shares of the oil and gas producer’s stock worth $946,000 after purchasing an additional 3,052 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of CNX Resources in the second quarter worth $131,000. 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.