Piper Sandler Cuts CNX Resources (NYSE:CNX) Price Target to $21.00

CNX Resources (NYSE:CNX - Get Free Report) had its target price cut by analysts at Piper Sandler from $22.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the oil and gas producer's stock. Piper Sandler's price objective points to a potential downside of 27.46% from the company's current price.

CNX has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. Morgan Stanley restated an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research report on Tuesday, April 15th. Finally, Roth Capital set a $30.00 target price on shares of CNX Resources in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $31.17.

CNX Resources Stock Performance

Shares of CNX stock traded down $0.11 during trading hours on Tuesday, hitting $28.95. The stock had a trading volume of 3,306,583 shares, compared to its average volume of 2,675,286. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a market capitalization of $4.26 billion, a PE ratio of -42.57, a PEG ratio of 0.42 and a beta of 1.33. The stock's 50 day moving average is $30.27 and its 200 day moving average is $33.08. CNX Resources has a twelve month low of $22.82 and a twelve month high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, research analysts forecast that CNX Resources will post 2.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

A number of institutional investors and hedge funds have recently modified their holdings of CNX. Bessemer Group Inc. grew its holdings in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in CNX Resources in the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC purchased a new position in CNX Resources during the 4th quarter valued at about $55,000. Harbor Capital Advisors Inc. acquired a new position in CNX Resources during the first quarter worth about $61,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of CNX Resources in the first quarter valued at approximately $63,000. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Company Profile

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.