CNX Resources - CNX Stock Forecast, Price & News

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas in Pennsylvania, West Virginia, and Ohio from approximately 526,000 net Marcellus Shale acres; and approximately 610,000 net acres of Utica Shale, as well as rights to extract natural gas from other shale and shallow oil and gas positions from approximately 1,006,000 net acres in Illinois, Indiana, New York, Ohio, Pennsylvania, Virginia, and West Virginia. It also owns rights to extract coalbed methane (CBM) in Virginia from approximately 282,000 net CBM acres in Central Appalachia, as well as 1,733,000 net CBM acres in West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. In addition, the company designs, builds, and operates natural gas gathering systems to move gas from the wellhead to interstate pipelines or other local sales points; owns and operates approximately 2,600 miles of natural gas gathering pipelines, as well as various natural gas processing facilities. It also offers turn-key solutions for water sourcing, delivery, and disposal for its natural gas operations and for third parties. The company was formerly known as CONSOL Energy Inc. and changed its name to CNX Resources Corporation in November 2017. CNX Resources Corporation was founded in 1860 and is headquartered in Canonsburg, Pennsylvania.

Analyst Ratings Changes

Several equities research analysts have weighed in on CNX shares. Truist Financial raised their price objective on shares of CNX Resources from $16.00 to $22.00 in a research report on Thursday, April 21st. Piper Sandler lowered their price objective on shares of CNX Resources to $23.00 and set a "na" rating for the company in a research report on Wednesday, May 18th. Wells Fargo & Company cut shares of CNX Resources from an "overweight" rating to an "equal weight" rating and raised their price objective for the company from $26.00 to $27.00 in a research report on Monday, July 11th. MKM Partners reaffirmed a "neutral" rating and issued a $16.00 target price on shares of CNX Resources in a research note on Wednesday, July 20th. Finally, Scotiabank reaffirmed an "assumes" rating on shares of CNX Resources in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.63.

CNX Resources Price Performance

CNX Resources stock traded down $0.02 during midday trading on Monday, hitting $15.75. 2,933,844 shares of the stock were exchanged, compared to its average volume of 3,542,706. The company has a fifty day simple moving average of $18.54 and a two-hundred day simple moving average of $18.65. CNX Resources has a 52 week low of $10.41 and a 52 week high of $24.21. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.75.