CNX Resources Corporation. (NYSE:CNX) Receives $31.58 Consensus Target Price from Analysts

Shares of CNX Resources Corporation. (NYSE:CNX - Get Free Report) have earned a consensus rating of "Reduce" from the fifteen research firms that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $31.58.

CNX has been the subject of a number of research analyst reports. Cowen reiterated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a research note on Friday, April 11th. Morgan Stanley reiterated an "underweight" rating and issued a $31.00 price objective on shares of CNX Resources in a research report on Tuesday, April 15th. Bank of America cut their price objective on 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, JPMorgan Chase & Co. lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th.

Insider Transactions at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the purchase, the director now directly owns 245,433 shares in the company, valued at approximately $7,657,509.60. This represents a 4.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

A number of institutional investors and hedge funds have recently modified their holdings of CNX. Convergence Investment Partners LLC bought a new stake in CNX Resources in the fourth quarter valued at about $1,556,000. Neo Ivy Capital Management bought a new stake in shares of CNX Resources in the 4th quarter valued at about $1,429,000. Charles Schwab Investment Management Inc. increased its stake 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 valued at $73,357,000 after acquiring an additional 139,647 shares during the last quarter. Assetmark Inc. increased its stake 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. Finally, Wakefield Asset Management LLLP bought a new stake in CNX Resources in the fourth quarter valued at approximately $1,047,000. 95.16% of the stock is owned by institutional investors.

CNX Resources Price Performance

Shares of NYSE CNX traded up $0.02 during midday trading on Thursday, reaching $34.39. 3,425,579 shares of the company traded hands, compared to its average volume of 2,612,902. CNX Resources has a 12 month low of $23.71 and a 12 month high of $41.93. The firm has a market cap of $4.98 billion, a PE ratio of -16.69, a PEG ratio of 0.32 and a beta of 0.66. The stock's 50-day simple moving average is $31.52 and its 200-day simple moving average is $31.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.27.

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.