Barclays Lowers CNX Resources (NYSE:CNX) Price Target to $32.00

Key Points

• Barclays has lowered its price target for CNX Resources from $33.00 to $32.00, suggesting a potential downside of 3.88% from the current price.
• Other analysts have expressed mixed views on the stock, with TD Cowen upgrading to "hold" while Piper Sandler set a lower price target of $24.00.
• Institutional investors hold a significant share of the company, owning approximately 95.16% of CNX Resources' stock.

CNX Resources (NYSE:CNX - Get Free Report) had its price target decreased by Barclays from $33.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the oil and gas producer's stock. Barclays's price objective would suggest a potential downside of 3.88% from the company's current price.

Other analysts also recently issued research reports about the stock. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. Weiss Ratings restated a "hold (c)" rating on shares of CNX Resources in a research report on Saturday, September 27th. Piper Sandler reduced their price objective on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Thursday, August 14th. Scotiabank restated a "sector perform" rating and set a $35.00 price objective (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Finally, Mizuho upgraded shares of CNX Resources from an "underperform" rating to a "neutral" rating and reduced their price objective for the stock from $36.00 to $34.00 in a research report on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, CNX Resources presently has a consensus rating of "Reduce" and an average price target of $31.77.

CNX Resources Stock Up 1.2%

Shares of CNX Resources stock opened at $33.29 on Tuesday. CNX Resources has a 52-week low of $27.00 and a 52-week high of $41.93. The company has a 50 day moving average of $29.96 and a 200 day moving average of $31.13. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $4.71 billion, a P/E ratio of 56.42, a P/E/G ratio of 0.30 and a beta of 0.55.

Institutional Trading of CNX Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in CNX Resources in the 1st quarter valued at $718,000. Principal Financial Group Inc. increased its stake in CNX Resources by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer's stock valued at $14,868,000 after buying an additional 7,440 shares during the period. HighTower Advisors LLC increased its stake in CNX Resources by 59.7% in the 1st quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer's stock valued at $1,467,000 after buying an additional 17,424 shares during the period. Bridges Investment Management Inc. increased its stake in CNX Resources by 111.3% in the 1st quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock valued at $1,406,000 after buying an additional 23,531 shares during the period. Finally, KBC Group NV increased its stake in CNX Resources by 25.0% in the 1st quarter. KBC Group NV now owns 7,768 shares of the oil and gas producer's stock valued at $245,000 after buying an additional 1,552 shares during the period. 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.

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