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

Shares of CNX Resources Co. (NYSE:CNX - Get Free Report) have been assigned an average rating of "Reduce" from the fifteen research firms that are covering the company, MarketBeat 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 12 month target price among analysts that have issued a report on the stock in the last year is $31.58.

Several equities analysts have recently commented on the company. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a report on Friday, April 11th. Morgan Stanley restated an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research report on Tuesday, April 15th. Piper Sandler increased their target price on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 13th. Mizuho boosted their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their price target 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 Stock Performance

Shares of CNX Resources stock traded down $0.14 during trading hours on Friday, reaching $31.33. The company's stock had a trading volume of 1,050,071 shares, compared to its average volume of 2,652,910. CNX Resources has a one year low of $23.63 and a one year high of $41.93. The company's 50 day simple moving average is $30.82 and its 200 day simple moving average is $32.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The stock has a market cap of $4.53 billion, a P/E ratio of -46.07, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62.

Insider Buying and Selling

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the transaction, the director now owns 245,433 shares in the company, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Congress Asset Management Co. grew its position 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. Convergence Investment Partners LLC bought a new stake in shares of CNX Resources during the 4th quarter worth $1,556,000. Charles Schwab Investment Management Inc. grew its holdings 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 worth $73,357,000 after acquiring an additional 139,647 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of CNX Resources during the fourth quarter worth $1,047,000. Finally, Assetmark Inc. lifted its holdings in shares of CNX Resources by 2.2% during the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock valued at $32,469,000 after purchasing an additional 19,309 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

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.