CNX Resources Corporation. (NYSE:CNX) Given Average Rating of "Reduce" by Brokerages

Key Points

• CNX Resources Corporation has received an average broker recommendation of "Reduce", with five analysts rating it as a sell and one as a buy.
• The average 12-month price target for CNX Resources is $32.50, reflecting varied expectations among analysts.
• Institutional investors own 95.16% of CNX Resources' stock, indicating strong confidence from large financial entities in the company's future performance.

Shares of CNX Resources Corporation. (NYSE:CNX - Get Free Report) have earned an average recommendation of "Reduce" from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.50.

CNX has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of CNX Resources in a research note on Tuesday, October 14th. Scotiabank lifted their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. Mizuho lifted their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Barclays decreased their target price on shares of CNX Resources from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 7th. Finally, Morgan Stanley decreased their target price on shares of CNX Resources from $32.00 to $31.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 14th.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $31.94 on Wednesday. The company's 50 day simple moving average is $30.64 and its 200 day simple moving average is $31.21. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 54.13, a price-to-earnings-growth ratio of 0.28 and a beta of 0.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. CNX Resources has a 1 year low of $27.00 and a 1 year high of $41.93.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of CNX Resources by 4.4% during the first quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock worth $502,178,000 after buying an additional 665,289 shares during the last quarter. Southeast Asset Advisors LLC grew its stake in shares of CNX Resources by 0.3% during the second quarter. Southeast Asset Advisors LLC now owns 2,414,955 shares of the oil and gas producer's stock worth $81,336,000 after buying an additional 6,930 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of CNX Resources by 16.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer's stock worth $47,152,000 after buying an additional 200,000 shares during the last quarter. Nuveen LLC bought a new stake in shares of CNX Resources during the first quarter worth $35,567,000. Finally, AQR Capital Management LLC grew its stake in shares of CNX Resources by 112.2% during the second quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer's stock worth $33,932,000 after buying an additional 532,770 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

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.

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