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

CNX Resources Corporation. (NYSE:CNX - Get Free Report) has been assigned an average rating of "Reduce" from the fifteen research firms that are currently 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 assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $31.58.

A number of brokerages have recently issued reports on CNX. Morgan Stanley restated an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a report on Tuesday, April 15th. Piper Sandler boosted their price objective on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a report on Tuesday, May 13th. Mizuho lifted their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Bank of America dropped their price target on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. Finally, Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target for the company in a research report on Friday, April 11th.

CNX Resources Stock Performance

Shares of NYSE:CNX traded up $0.76 during trading on Thursday, reaching $34.35. 2,042,627 shares of the stock were exchanged, compared to its average volume of 2,630,206. CNX Resources has a 12 month low of $23.63 and a 12 month high of $41.93. The firm has a market cap of $4.97 billion, a PE ratio of -16.67, a PEG ratio of 0.31 and a beta of 0.66. The stock has a 50-day moving average price of $31.34 and a 200-day moving average price of $31.65. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling at CNX Resources

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the transaction, the director now directly owns 245,433 shares in the company, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources during the fourth quarter worth $39,000. VSM Wealth Advisory LLC bought a new stake in shares of CNX Resources during the fourth quarter worth $55,000. Harbor Capital Advisors Inc. bought a new stake in shares of CNX Resources during the first quarter worth $61,000. Finally, Sound Income Strategies LLC bought a new stake in shares of CNX Resources during the first quarter worth $63,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.