Piper Sandler Boosts CNX Resources (NYSE:CNX) Price Target to $22.00

CNX Resources (NYSE:CNX - Free Report) had its price target increased by Piper Sandler from $18.00 to $22.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer's stock.

Several other equities analysts have also recently weighed in on CNX. Bank of America upgraded CNX Resources from an underperform rating to a neutral rating and set a $23.00 price objective on the stock in a report on Friday, January 5th. Roth Mkm lifted their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. 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 report on Friday, April 5th. Scotiabank boosted their price objective on shares of CNX Resources from $20.00 to $25.00 and gave the company a sector underperform rating in a research report on Thursday, April 11th. Finally, Mizuho increased their target price on CNX Resources from $24.00 to $25.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $24.43.

CNX Resources Trading Up 1.4 %

NYSE CNX traded up $0.32 during trading on Friday, reaching $24.02. 2,013,326 shares of the stock traded hands, compared to its average volume of 2,966,391. CNX Resources has a fifty-two week low of $14.36 and a fifty-two week high of $24.82. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 2.64 and a beta of 1.33. The stock's 50-day moving average price is $22.16 and its 200 day moving average price is $21.35.

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. The company had revenue of $999.50 million during the quarter, compared to analyst estimates of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The firm's revenue was down 38.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. Analysts predict that CNX Resources will post 1.31 EPS for the current year.

Insider Activity at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the transaction, the executive vice president now directly owns 67,982 shares of the company's stock, valued at $1,416,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors have recently added to or reduced their stakes in CNX. Allspring Global Investments Holdings LLC grew its position in shares of CNX Resources by 243.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer's stock valued at $1,723,000 after acquiring an additional 51,490 shares during the period. AlphaMark Advisors LLC grew its holdings in CNX Resources by 36.7% during the first quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer's stock worth $361,000 after purchasing an additional 4,091 shares during the period. Hexagon Capital Partners LLC grew its holdings in CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer's stock worth $51,000 after purchasing an additional 1,136 shares during the period. Gateway Investment Advisers LLC acquired a new position in CNX Resources during the first quarter worth approximately $231,000. Finally, Congress Asset Management Co. MA raised its stake in CNX Resources by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer's stock valued at $5,311,000 after buying an additional 945 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.