CNX Resources Corporation. (NYSE:CNX) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• CNX Resources Corporation has received a consensus rating of "Reduce" from analysts, with six analysts recommending a sell, ten a hold, and one a buy.
• The average 12-month price target set by brokerages for CNX Resources is $31.64, with recent price targets ranging from $24.00 to $35.00.
• Institutional investors and hedge funds hold 95.16% of CNX Resources' stock, indicating significant institutional interest in the company.

CNX Resources Corporation. (NYSE:CNX - Get Free Report) has been given a consensus rating of "Reduce" by the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $31.6429.

A number of research firms have recently weighed in on CNX. Scotiabank reiterated a "sector perform" rating and set a $35.00 price target (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Barclays initiated coverage on shares of CNX Resources in a research note on Monday, July 7th. They set an "equal weight" rating and a $33.00 target price for the company. Piper Sandler decreased their price objective on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a report on Thursday, August 14th. Siebert Williams Shank assumed coverage on shares of CNX Resources in a research report on Monday, September 15th. They set a "hold" rating and a $32.00 price objective for the company. Finally, Mizuho raised CNX Resources from an "underperform" rating to a "neutral" rating and cut their target price for the company from $36.00 to $34.00 in a research report on Monday, September 15th.

CNX Resources Trading Up 0.2%

CNX opened at $32.23 on Friday. The business's 50 day moving average price is $29.86 and its 200 day moving average price is $31.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The stock has a market capitalization of $4.56 billion, a PE ratio of 54.63, a P/E/G ratio of 0.29 and a beta of 0.60. CNX Resources has a one year low of $27.00 and a one year high of $41.93.

Hedge Funds Weigh In On CNX Resources

Several institutional investors have recently modified their holdings of CNX. Allspring Global Investments Holdings LLC purchased a new position in CNX Resources in the first quarter worth approximately $718,000. Principal Financial Group Inc. grew its stake in shares of CNX Resources by 1.6% during the first quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer's stock worth $14,868,000 after purchasing an additional 7,440 shares in the last quarter. HighTower Advisors LLC increased its holdings in CNX Resources by 59.7% in the first quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer's stock valued at $1,467,000 after buying an additional 17,424 shares during the last quarter. Bridges Investment Management Inc. raised its stake in CNX Resources by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock valued at $1,406,000 after buying an additional 23,531 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in CNX Resources by 21.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after buying an additional 508 shares during the last quarter. Institutional investors and hedge funds 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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