CNX Resources Co. (NYSE:CNX) Receives Average Rating of "Reduce" from Brokerages

CNX Resources Co. (NYSE:CNX - Get Free Report) has been given an average recommendation of "Reduce" by the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $31.58.

CNX has been the topic of a number of recent analyst reports. Mizuho lifted their price target on CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Morgan Stanley reiterated an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a research note on Tuesday, April 15th. Wall Street Zen lowered shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th.

CNX Resources Stock Up 0.3%

NYSE:CNX traded up $0.10 on Friday, hitting $31.57. The stock had a trading volume of 123,755 shares, compared to its average volume of 2,646,952. CNX Resources has a 1 year low of $23.63 and a 1 year high of $41.93. The firm's fifty day simple moving average is $30.83 and its two-hundred day simple moving average is $32.42. 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 $4.57 billion, a P/E ratio of -46.43, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62.

Insider Transactions at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $31.20 per share, with a total value of $312,000.00. Following the transaction, the director now owns 245,433 shares of the company's stock, valued at $7,657,509.60. The trade was a 4.25% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CNX. Congress Asset Management Co. lifted its stake in shares of CNX Resources by 7.2% during the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after buying an additional 17,951 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in shares of CNX Resources in the fourth quarter valued at $1,556,000. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 7.5% during 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 buying an additional 139,647 shares in the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of CNX Resources during the 4th quarter valued at about $1,047,000. Finally, Assetmark Inc. lifted its holdings in shares of CNX Resources by 2.2% in the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock valued at $32,469,000 after acquiring an additional 19,309 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

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.