CNX Resources Corporation. (NYSE:CNX) Receives $31.85 Consensus PT from Analysts

Shares of CNX Resources Corporation. (NYSE:CNX - Get Free Report) have earned a consensus rating of "Reduce" from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.85.

A number of analysts have recently weighed in on CNX shares. Bank of America decreased 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. Barclays started 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. Morgan Stanley reissued an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. Piper Sandler raised their price target on shares of CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 13th. Finally, TD Cowen raised shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th.

Insider Activity

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the firm's stock in a transaction that occurred 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 acquisition, the director owned 245,433 shares in the company, valued at $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CNX. Raymond James Financial Inc. acquired a new stake in shares of CNX Resources in the fourth quarter valued at approximately $14,268,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CNX Resources by 19.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,330 shares of the oil and gas producer's stock valued at $1,699,000 after buying an additional 7,401 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of CNX Resources by 6.9% in the fourth quarter. HighTower Advisors LLC now owns 29,168 shares of the oil and gas producer's stock valued at $1,070,000 after buying an additional 1,879 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of CNX Resources by 16.8% in 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 last quarter. Finally, Counterpoint Mutual Funds LLC lifted its position in shares of CNX Resources by 149.6% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 19,637 shares of the oil and gas producer's stock valued at $720,000 after buying an additional 11,770 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Price Performance

Shares of NYSE CNX traded up $0.16 during trading on Monday, hitting $34.10. 1,385,865 shares of the company were exchanged, compared to its average volume of 2,593,487. The company has a market cap of $4.94 billion, a price-to-earnings ratio of -16.55, a PEG ratio of 0.33 and a beta of 0.66. CNX Resources has a 1 year low of $23.85 and a 1 year high of $41.93. The firm's fifty day moving average price is $32.68 and its 200 day moving average price is $31.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.27 and a quick ratio of 0.25.

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.