CNX Resources (NYSE:CNX) Stock Rating Upgraded by TD Cowen

CNX Resources (NYSE:CNX - Get Free Report) was upgraded by research analysts at TD Cowen to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Piper Sandler increased 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. JPMorgan Chase & Co. increased their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $31.69.

CNX Resources Stock Up 0.5%

Shares of CNX opened at $32.17 on Monday. The company has a 50-day simple moving average of $32.16 and a 200-day simple moving average of $31.19. The firm has a market capitalization of $4.66 billion, a P/E ratio of -15.62, a P/E/G ratio of 0.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.27. CNX Resources has a 52 week low of $23.85 and a 52 week high of $41.93.

Insider Activity at CNX Resources

In related news, Director J. Palmer Clarkson purchased 10,000 shares of the firm's stock in a transaction dated 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 completion of the purchase, the director directly owned 245,433 shares of the company's stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Trading of CNX Resources

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. grew its stake in shares of CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $39,000. VSM Wealth Advisory LLC bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $55,000. Harbor Capital Advisors Inc. bought a new stake in shares of CNX Resources during the first quarter valued at approximately $61,000. Finally, Sound Income Strategies LLC bought a new stake in shares of CNX Resources during the first quarter valued at approximately $63,000. 95.16% of the stock is owned by institutional investors.

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.

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