CNX Resources Co. (NYSE:CNX) Receives Consensus Recommendation of "Reduce" from Brokerages

Shares of CNX Resources Co. (NYSE:CNX - Get Free Report) have received an average rating of "Reduce" from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $31.17.

CNX has been the topic of several analyst reports. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Roth Capital set a $30.00 target price on CNX Resources in a research note on Thursday, January 23rd. Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Mizuho raised their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a research report on Monday, April 7th. Finally, Bank of America reduced their target price on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st.

Hedge Funds Weigh In On CNX Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in CNX Resources by 75.6% in the 1st quarter. Victory Capital Management Inc. now owns 142,658 shares of the oil and gas producer's stock valued at $4,491,000 after acquiring an additional 61,438 shares during the last quarter. Significant Wealth Partners LLC grew its holdings in CNX Resources by 26.1% during the 1st quarter. Significant Wealth Partners LLC now owns 9,798 shares of the oil and gas producer's stock valued at $308,000 after buying an additional 2,028 shares during the last quarter. Leavell Investment Management Inc. raised its holdings in shares of CNX Resources by 11.9% in the first quarter. Leavell Investment Management Inc. now owns 8,578 shares of the oil and gas producer's stock worth $270,000 after acquiring an additional 912 shares during the last quarter. Bridges Investment Management Inc. lifted its position in shares of CNX Resources by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock valued at $1,406,000 after acquiring an additional 23,531 shares in the last quarter. Finally, M&T Bank Corp increased its position in CNX Resources by 38.8% during the 1st quarter. M&T Bank Corp now owns 17,638 shares of the oil and gas producer's stock worth $556,000 after purchasing an additional 4,933 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Up 0.6 %

Shares of CNX traded up $0.20 during mid-day trading on Wednesday, hitting $30.51. 255,865 shares of the company's stock were exchanged, compared to its average volume of 3,110,814. CNX Resources has a fifty-two week low of $23.10 and a fifty-two week high of $41.93. The stock's 50-day moving average is $30.24 and its 200-day moving average is $32.88. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -44.85, a P/E/G ratio of 0.42 and a beta of 1.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

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

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.