CNX Resources Corporation. (NYSE:CNX) Receives Average Recommendation of "Reduce" from Brokerages

Shares of CNX Resources Corporation. (NYSE:CNX - Get Free Report) have been given a consensus rating of "Reduce" by the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $31.85.

A number of equities research analysts have commented on the stock. Barclays initiated coverage on shares of CNX Resources in a report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price target for the company. Scotiabank boosted their target price on CNX Resources from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Friday. Mizuho increased 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 reissued an "underweight" rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Finally, TD Cowen upgraded CNX Resources to a "hold" rating in a report on Monday, July 7th.

CNX Resources Stock Up 2.0%

Shares of NYSE:CNX opened at $34.00 on Monday. CNX Resources has a 1 year low of $23.85 and a 1 year high of $41.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.27 and a quick ratio of 0.25. The business's 50-day moving average is $32.43 and its 200-day moving average is $31.10. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of -16.50, a P/E/G ratio of 0.33 and a beta of 0.66.

Insider Buying and Selling at CNX Resources

In other news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction 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 transaction, the director owned 245,433 shares of the company's stock, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.59% of the stock is owned by insiders.

Hedge Funds Weigh In On CNX Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in CNX Resources during the fourth quarter worth $14,268,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CNX Resources by 19.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,330 shares of the oil and gas producer's stock worth $1,699,000 after purchasing an additional 7,401 shares during the period. HighTower Advisors LLC boosted its holdings in shares of CNX Resources by 6.9% in the 4th quarter. HighTower Advisors LLC now owns 29,168 shares of the oil and gas producer's stock worth $1,070,000 after buying an additional 1,879 shares during the last quarter. Corient Private Wealth LLC grew its position in CNX Resources by 16.8% during the fourth quarter. Corient Private Wealth LLC now owns 51,946 shares of the oil and gas producer's stock valued at $1,903,000 after buying an additional 7,464 shares during the period. Finally, Counterpoint Mutual Funds LLC increased its holdings in CNX Resources by 149.6% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 19,637 shares of the oil and gas producer's stock worth $720,000 after buying an additional 11,770 shares during the last quarter. Hedge funds and other 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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