CNX Resources Co. (NYSE:CNX) Short Interest Update

CNX Resources Co. (NYSE:CNX - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 27,700,000 shares, a drop of 6.8% from the March 15th total of 29,720,000 shares. Based on an average daily trading volume, of 3,070,000 shares, the short-interest ratio is presently 9.0 days. Approximately 18.9% of the company's shares are short sold.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. 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 report on Friday, January 5th. Roth Mkm raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, April 2nd. Mizuho raised their price target on shares of CNX Resources from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Truist Financial raised their price target on shares of CNX Resources from $28.00 to $30.00 and gave the company a "buy" rating in a report on Friday, April 5th. Finally, Piper Sandler raised their price target on shares of CNX Resources from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $23.86.

Insider Buying and Selling

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now directly owns 67,982 shares in the company, valued at approximately $1,416,065.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.65% of the stock is currently owned by insiders.

Institutional Trading of CNX Resources

Several large investors have recently made changes to their positions in CNX. Algert Global LLC purchased a new stake in CNX Resources during the third quarter worth $350,000. QRG Capital Management Inc. purchased a new stake in CNX Resources during the third quarter worth $3,542,000. Comerica Bank purchased a new stake in CNX Resources during the third quarter worth $4,054,000. IFP Advisors Inc boosted its holdings in CNX Resources by 3,621.9% during the third quarter. IFP Advisors Inc now owns 21,066 shares of the oil and gas producer's stock worth $476,000 after buying an additional 20,500 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in CNX Resources by 444.1% during the third quarter. Stifel Financial Corp now owns 137,247 shares of the oil and gas producer's stock worth $3,099,000 after buying an additional 112,023 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

Shares of CNX Resources stock traded up $0.05 during midday trading on Tuesday, hitting $23.83. The company had a trading volume of 2,383,261 shares, compared to its average volume of 3,006,114. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 2.62 and a beta of 1.33. 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 company has a fifty day simple moving average of $21.93 and a 200 day simple moving average of $21.30. CNX Resources has a 12-month low of $14.36 and a 12-month high of $24.82.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, beating the consensus estimate of $0.30 by $2.59. The business had revenue of $999.50 million during 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%. The business's quarterly revenue was down 38.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. As a group, analysts predict that CNX Resources will post 1.31 earnings per share for the current fiscal year.

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.