CNX Resources (NYSE:CNX) Given "Sector Perform" Rating at Scotiabank

CNX Resources (NYSE:CNX - Get Free Report)'s stock had its "sector perform" rating reaffirmed by investment analysts at Scotiabank in a report issued on Friday, MarketBeat reports. They currently have a $35.00 price objective on the oil and gas producer's stock, up from their previous price objective of $33.00. Scotiabank's price target suggests a potential downside of 0.64% from the company's previous close.

A number of other analysts have also weighed in on CNX. Mizuho raised their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. TD Cowen raised shares of CNX Resources to a "hold" rating in a report on Monday, July 7th. Piper Sandler raised their price target on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a report on Tuesday, May 13th. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a report on Tuesday, April 15th. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.85.

CNX Resources Stock Performance

NYSE:CNX opened at $35.23 on Friday. CNX Resources has a 1 year low of $23.85 and a 1 year high of $41.93. The firm has a 50 day moving average of $32.43 and a 200-day moving average of $31.10. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $5.10 billion, a P/E ratio of -17.10, a price-to-earnings-growth ratio of 0.33 and a beta of 0.66.

Insider Buying and Selling

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were 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 $7,657,509.60. The trade was a 4.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On CNX Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new stake in CNX Resources during the 2nd quarter worth about $339,000. CHICAGO TRUST Co NA raised its holdings in shares of CNX Resources by 13.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 7,932 shares of the oil and gas producer's stock valued at $267,000 after purchasing an additional 970 shares during the period. GAMMA Investing LLC raised its holdings in shares of CNX Resources by 11.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer's stock valued at $127,000 after purchasing an additional 389 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of CNX Resources by 30.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,838 shares of the oil and gas producer's stock valued at $129,000 after purchasing an additional 907 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in shares of CNX Resources in the 2nd quarter valued at about $356,000. 95.16% of the stock is owned by institutional investors.

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.