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

Key Points

• Analysts have a consensus rating of "Reduce" on CNX Resources from 12 firms (4 sell, 6 hold, 1 buy, 1 strong buy) with an average 12‑month price target of $35.67, below the recent opening price of about $38.36.
• CNX posted a strong quarterly beat (EPS $1.28 vs. $0.34 estimate; revenue $610.5M, up 347% YoY), but two directors recently sold large blocks of stock (reducing their holdings) — insiders own 5.03% while institutional investors hold about 95.16%.

CNX Resources Corporation. (NYSE:CNX - Get Free Report) has earned an average recommendation of "Reduce" from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $35.6667.

A number of brokerages recently issued reports on CNX. Zacks Research upgraded shares of CNX Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 30th. Scotiabank reiterated a "sector perform" rating and issued a $44.00 target price on shares of CNX Resources in a research report on Wednesday, January 21st. Truist Financial began coverage on shares of CNX Resources in a research report on Tuesday, March 24th. They issued a "sell" rating and a $35.00 target price for the company. Roth Mkm set a $35.00 target price on shares of CNX Resources and gave the company a "neutral" rating in a research report on Thursday, January 29th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of CNX Resources in a research report on Friday, March 27th.

Insider Transactions at CNX Resources

In related news, Director Bernard Lanigan, Jr. sold 46,119 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $40.60, for a total value of $1,872,431.40. Following the completion of the transaction, the director owned 177,180 shares in the company, valued at $7,193,508. This represents a 20.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Maureen Lally-Green sold 23,631 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.52, for a total transaction of $933,897.12. Following the completion of the transaction, the director owned 169,577 shares of the company's stock, valued at $6,701,683.04. This represents a 12.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.03% of the company's stock.

Institutional Investors Weigh In On CNX Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its holdings in CNX Resources by 56.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer's stock valued at $30,000 after acquiring an additional 293 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in CNX Resources by 8.6% in the 4th quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer's stock valued at $164,000 after acquiring an additional 353 shares during the last quarter. Aigen Investment Management LP lifted its holdings in CNX Resources by 4.9% in the 4th quarter. Aigen Investment Management LP now owns 7,619 shares of the oil and gas producer's stock valued at $280,000 after acquiring an additional 354 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in CNX Resources by 3.2% in the 4th quarter. Arkadios Wealth Advisors now owns 13,028 shares of the oil and gas producer's stock valued at $479,000 after acquiring an additional 400 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in CNX Resources by 5.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer's stock valued at $349,000 after acquiring an additional 587 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Down 2.4%

CNX Resources stock opened at $38.36 on Wednesday. The company has a 50-day simple moving average of $40.09 and a 200-day simple moving average of $37.43. The firm has a market capitalization of $5.46 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.31 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44. CNX Resources has a one year low of $27.72 and a one year high of $43.62.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 EPS for the quarter, topping the consensus estimate of $0.34 by $0.94. The business had revenue of $610.48 million during the quarter, compared to analyst estimates of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The company's quarterly revenue was up 347.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.97) earnings per share. As a group, equities analysts expect that CNX Resources will post 2.18 earnings per share for the current year.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.

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