CNX Resources Co. (NYSE:CNX) Receives $31.17 Consensus Target Price from Analysts

CNX Resources Co. (NYSE:CNX - Get Free Report) has earned a consensus recommendation of "Reduce" from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.17.

Several research firms have issued reports on CNX. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. TD Cowen began coverage on CNX Resources in a report on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price for the company. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target on the stock in a research note on Friday, April 11th. Mizuho boosted their price objective on CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th.

CNX Resources Price Performance

Shares of CNX Resources stock traded up $0.70 during trading on Wednesday, hitting $30.28. The stock had a trading volume of 2,123,393 shares, compared to its average volume of 2,682,259. The business has a fifty day moving average of $30.24 and a two-hundred day moving average of $32.89. The firm has a market cap of $4.38 billion, a P/E ratio of -44.53, a PEG ratio of 0.42 and a beta of 1.33. CNX Resources has a fifty-two week low of $23.10 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, sell-side analysts expect that CNX Resources will post 2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Congress Asset Management Co. increased its holdings in CNX Resources by 7.2% in the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock worth $9,771,000 after buying an additional 17,951 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of CNX Resources during the 3rd quarter worth $534,000. Convergence Investment Partners LLC bought a new position in shares of CNX Resources during the 4th quarter valued at $1,556,000. Charles Schwab Investment Management Inc. lifted its stake in shares of CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after purchasing an additional 139,647 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in CNX Resources during the fourth quarter worth $1,047,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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.