Brokerages Set CNX Resources Co. (NYSE:CNX) Price Target at $31.58

Shares of CNX Resources Co. (NYSE:CNX - Get Free Report) have been given a consensus recommendation of "Reduce" by the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.58.

CNX has been the topic of a number of recent analyst reports. Bank of America reduced their price target on CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. upped their target price on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Mizuho increased their price target on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Cowen restated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Finally, Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th.

CNX Resources Stock Up 1.6%

Shares of NYSE CNX traded up $0.51 during trading hours on Friday, hitting $32.15. 1,756,876 shares of the stock were exchanged, compared to its average volume of 2,658,845. CNX Resources has a 12 month low of $23.63 and a 12 month high of $41.93. The firm has a fifty day moving average price of $30.83 and a 200-day moving average price of $32.43. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.65 billion, a PE ratio of -47.28, a PEG ratio of 0.42 and a beta of 0.62.

Insider Buying and Selling at CNX Resources

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was bought at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the acquisition, the director now owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

Several hedge funds have recently modified their holdings of CNX. Woodline Partners LP acquired a new position in CNX Resources in the 4th quarter worth about $71,971,000. Nuveen LLC acquired a new position in shares of CNX Resources during the 1st quarter worth approximately $35,567,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of CNX Resources during the 4th quarter valued at approximately $37,923,000. Adage Capital Partners GP L.L.C. grew its stake in CNX Resources by 514.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the oil and gas producer's stock valued at $37,776,000 after acquiring an additional 1,004,545 shares during the period. Finally, Vanguard Group Inc. increased its holdings in CNX Resources by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock worth $502,178,000 after acquiring an additional 665,289 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.