CNX Resources (NYSE:CNX - Free Report) had its price objective hoisted by Scotiabank from $20.00 to $25.00 in a report issued on Thursday, Benzinga reports. They currently have a sector underperform rating on the oil and gas producer's stock.
Other equities analysts have also recently issued research reports about the stock. Truist Financial increased their price objective on shares of CNX Resources from $28.00 to $30.00 and gave the stock a buy rating in a research note on Friday, April 5th. Piper Sandler raised their target price on shares of CNX Resources from $17.00 to $18.00 and gave the stock a neutral rating in a research note on Thursday, March 7th. Bank of America upgraded shares of CNX Resources from an underperform rating to a neutral rating and set a $23.00 target price on the stock in a research note on Friday, January 5th. Mizuho raised their target price on shares of CNX Resources from $24.00 to $25.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Roth Mkm raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a neutral rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $23.86.
View Our Latest Stock Report on CNX Resources
CNX Resources Stock Down 0.9 %
CNX Resources stock traded down $0.21 during mid-day trading on Thursday, reaching $24.41. The stock had a trading volume of 1,732,394 shares, compared to its average volume of 3,024,427. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 2.68 and a beta of 1.33. The company has a 50-day moving average price of $21.68 and a two-hundred day moving average price of $21.28. CNX Resources has a one year low of $14.36 and a one year high of $24.74. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49.
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, topping analysts' consensus estimates of $0.30 by $2.59. The company had revenue of $999.50 million for the quarter, compared to analysts' expectations of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. CNX Resources's revenue was down 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. On average, analysts expect that CNX Resources will post 1.38 EPS for the current fiscal year.
Insider Buying and Selling at CNX Resources
In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the sale, the executive vice president now directly owns 67,982 shares of the company's stock, valued at approximately $1,416,065.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.65% of the company's stock.
Institutional Investors Weigh In On CNX Resources
A number of institutional investors have recently added to or reduced their stakes in the stock. Teza Capital Management LLC grew its holdings in shares of CNX Resources by 0.5% in the third quarter. Teza Capital Management LLC now owns 111,206 shares of the oil and gas producer's stock valued at $2,511,000 after purchasing an additional 522 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of CNX Resources by 4.1% in the second quarter. Franklin Resources Inc. now owns 13,618 shares of the oil and gas producer's stock valued at $241,000 after purchasing an additional 540 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of CNX Resources by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,540 shares of the oil and gas producer's stock valued at $57,000 after purchasing an additional 590 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of CNX Resources by 4.8% in the first quarter. HighTower Advisors LLC now owns 14,676 shares of the oil and gas producer's stock valued at $234,000 after purchasing an additional 666 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of CNX Resources by 1.0% in the second quarter. Royal Bank of Canada now owns 80,851 shares of the oil and gas producer's stock valued at $1,433,000 after purchasing an additional 817 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.
About CNX Resources
(
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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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