CNX Resources (NYSE:CNX) PT Raised to $30.00

CNX Resources (NYSE:CNX - Get Free Report) had its price target raised by equities research analysts at Truist Financial from $28.00 to $30.00 in a report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the oil and gas producer's stock. Truist Financial's price target suggests a potential upside of 24.38% from the stock's current price.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a report on Tuesday, December 12th. Piper Sandler upped their price objective on shares of CNX Resources from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, March 7th. Mizuho upped their price objective on shares of CNX Resources from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Bank of America raised shares of CNX Resources from an "underperform" rating to a "neutral" rating and set a $23.00 price target for the company in a research report on Friday, January 5th. Finally, Roth Mkm upped their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $23.50.

CNX Resources Price Performance

CNX stock traded up $0.21 during trading on Friday, reaching $24.12. 1,673,333 shares of the company were exchanged, compared to its average volume of 3,062,557. CNX Resources has a 52-week low of $14.36 and a 52-week high of $24.34. The company has a market cap of $3.69 billion, a P/E ratio of 2.65, a PEG ratio of 1.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51. The stock's 50 day moving average price is $21.37 and its 200 day moving average price is $21.20.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The company had revenue of $999.50 million for the quarter, compared to the consensus estimate of $401.62 million. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The company's revenue for the quarter was down 38.9% compared to the same quarter last year. As a group, analysts predict that CNX Resources will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Timothy Scott Bedard bought 1,226 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $20.50 per share, for a total transaction of $25,133.00. Following the completion of the purchase, the executive vice president now owns 1,226 shares of the company's stock, valued at $25,133. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNX. Neo Ivy Capital Management bought a new position in CNX Resources during the 3rd quarter valued at $26,000. BluePath Capital Management LLC bought a new position in CNX Resources during the 3rd quarter valued at $32,000. Castleview Partners LLC bought a new position in CNX Resources during the 3rd quarter valued at $41,000. KBC Group NV bought a new position in CNX Resources during the 4th quarter valued at $44,000. Finally, Adirondack Trust Co. bought a new position in CNX Resources during the 3rd quarter valued at $54,000. 95.16% of the stock is currently owned by hedge funds and other 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.