Barclays Begins Coverage on CNX Resources (NYSE:CNX)

Stock analysts at Barclays started coverage on shares of CNX Resources (NYSE:CNX - Get Free Report) in a report issued on Monday, Marketbeat reports. The firm set an "equal weight" rating and a $33.00 price target on the oil and gas producer's stock. Barclays's price objective points to a potential upside of 2.58% from the stock's current price.

Several other brokerages also recently weighed in on CNX. JPMorgan Chase & Co. upped their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Piper Sandler upped their target price on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research note on Tuesday, May 13th. Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a research note on Friday, April 11th. Cowen restated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Finally, Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $35.00 to $48.00 in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.69.

CNX Resources Trading Up 0.5%

Shares of NYSE:CNX traded up $0.15 during trading on Monday, reaching $32.17. The stock had a trading volume of 1,651,635 shares, compared to its average volume of 2,608,975. The business has a fifty day moving average price of $32.11 and a 200-day moving average price of $31.22. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.66 billion, a P/E ratio of -15.62, a PEG ratio of 0.30 and a beta of 0.66. CNX Resources has a fifty-two week low of $23.85 and a fifty-two week high of $41.93.

Insider Transactions at CNX Resources

In other news, Director J. Palmer Clarkson purchased 10,000 shares of CNX Resources stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $31.20 per share, with a total value of $312,000.00. Following the transaction, the director directly owned 245,433 shares in the company, valued at $7,657,509.60. The trade was a 4.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 4.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CNX Resources

Several large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in CNX Resources by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after buying an additional 139,647 shares during the period. Raymond James Financial Inc. bought a new position in CNX Resources in the fourth quarter valued at about $14,268,000. Callan Family Office LLC bought a new position in CNX Resources in the fourth quarter valued at about $223,000. AlphaQuest LLC acquired a new stake in shares of CNX Resources during the fourth quarter valued at about $686,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CNX Resources by 19.0% during 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 purchasing an additional 7,401 shares in 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.