CNX Resources (NYSE:CNX) Raised to "Hold" at TD Cowen

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

CNX has been the topic of several other reports. Barclays assumed coverage on shares of CNX Resources in a report on Monday. They set an "equal weight" rating and a $33.00 price target on the stock. Mizuho boosted their target price on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Piper Sandler lifted their price target on CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a report on Tuesday, May 13th. Finally, Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective on the stock in a report on Friday, April 11th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.85.

CNX Resources Stock Up 2.0%

Shares of CNX Resources stock traded up $0.67 during midday trading on Monday, hitting $34.00. The company's stock had a trading volume of 1,670,014 shares, compared to its average volume of 2,594,516. CNX Resources has a 1-year low of $23.85 and a 1-year high of $41.93. 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 firm has a market capitalization of $4.92 billion, a P/E ratio of -16.50, a PEG ratio of 0.33 and a beta of 0.66. The stock has a 50-day simple moving average of $32.43 and a 200-day simple moving average of $31.17.

Insider Activity at CNX Resources

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, with a total value of $312,000.00. Following the acquisition, the director owned 245,433 shares in the company, valued at approximately $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Hodges Capital Management Inc. grew its position in shares of CNX Resources by 6.2% in the first quarter. Hodges Capital Management Inc. now owns 6,900 shares of the oil and gas producer's stock valued at $217,000 after purchasing an additional 400 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in CNX Resources by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock valued at $548,000 after purchasing an additional 415 shares during the period. Fox Run Management L.L.C. grew its holdings in CNX Resources by 2.7% in the 1st quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer's stock valued at $514,000 after buying an additional 432 shares during the last quarter. Pullen Investment Management LLC increased its position in CNX Resources by 1.5% in the 1st quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock worth $1,027,000 after buying an additional 482 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of CNX Resources by 21.0% during the first 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 own 95.16% of the company's stock.

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.