CNX Resources Corporation. (NYSE:CNX) Given Average Recommendation of "Reduce" by Analysts

Key Points

• CNX Resources Corporation has received an average recommendation of "Reduce" from analysts, with seven sell ratings, eight holds, and one buy rating.
• The average 12-month price target for CNX stock is $31.92, indicating a modest potential upside from current trading levels around $29.08.
• Insiders own 3.10% of CNX Resources, and a director recently bought 10,000 shares at an average price of $31.20, increasing their stake significantly.

Shares of CNX Resources Corporation. (NYSE:CNX - Get Free Report) have received a consensus rating of "Reduce" from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.9231.

Several research firms recently weighed in on CNX. Cowen restated a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Mizuho lifted their price target on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. TD Cowen upgraded CNX Resources to a "hold" rating in a research report on Monday, July 7th. Piper Sandler lifted their price target on shares of CNX Resources from $25.00 to $26.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Finally, Barclays initiated coverage on shares of CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target for the company.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of CNX Resources by 4.4% in 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 purchasing an additional 665,289 shares during the last quarter. Northern Trust Corp raised its stake in shares of CNX Resources by 20.5% in the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock worth $88,792,000 after purchasing an additional 411,485 shares during the last quarter. Southeast Asset Advisors LLC raised its stake in shares of CNX Resources by 6.3% in the first quarter. Southeast Asset Advisors LLC now owns 2,408,025 shares of the oil and gas producer's stock worth $75,805,000 after purchasing an additional 141,819 shares during the last quarter. Woodline Partners LP purchased a new position in shares of CNX Resources in the fourth quarter worth $71,971,000. Finally, Capital Research Global Investors raised its stake in shares of CNX Resources by 31.8% in the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock worth $53,172,000 after purchasing an additional 350,000 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Trading Down 0.6%

NYSE CNX traded down $0.18 during trading on Friday, hitting $28.60. The company had a trading volume of 258,019 shares, compared to its average volume of 2,680,255. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. CNX Resources has a one year low of $25.88 and a one year high of $41.93. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 0.25 and a beta of 0.64. The company's fifty day moving average is $32.21 and its 200-day moving average is $31.02.

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.