CNX Resources Co. (NYSE:CNX) Receives $19.60 Average Price Target from Brokerages

Shares of CNX Resources Co. (NYSE:CNXGet Free Report) have earned an average rating of “Reduce” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $20.40.

CNX has been the subject of a number of recent research reports. Scotiabank lowered shares of CNX Resources from a “sector perform” rating to a “sector underperform” rating in a research note on Wednesday. StockNews.com initiated coverage on shares of CNX Resources in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Mizuho boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, August 16th. Piper Sandler lifted their price objective on shares of CNX Resources from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, August 14th. Finally, Truist Financial increased their target price on shares of CNX Resources from $19.00 to $21.00 and gave the company a “hold” rating in a report on Monday.

Check Out Our Latest Research Report on CNX

CNX Resources Stock Performance

Shares of CNX stock opened at $22.16 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.58 and a quick ratio of 0.54. CNX Resources has a one year low of $14.36 and a one year high of $22.97. The business’s 50 day simple moving average is $20.67 and its 200 day simple moving average is $17.66. The stock has a market capitalization of $3.58 billion, a PE ratio of 2.34, a PEG ratio of 2.51 and a beta of 1.36.

CNX Resources (NYSE:CNXGet Free Report) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $839.70 million during the quarter, compared to the consensus estimate of $386.68 million. CNX Resources had a net margin of 49.95% and a return on equity of 12.98%. The company’s quarterly revenue was up 99.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. As a group, research analysts forecast that CNX Resources will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in CNX Resources by 10.5% in the third quarter. Vanguard Group Inc. now owns 18,448,774 shares of the oil and gas producer’s stock valued at $286,510,000 after purchasing an additional 1,758,826 shares during the last quarter. Southeastern Asset Management Inc. TN raised its stake in shares of CNX Resources by 19.9% during the 1st quarter. Southeastern Asset Management Inc. TN now owns 13,758,674 shares of the oil and gas producer’s stock valued at $220,414,000 after purchasing an additional 2,279,108 shares during the period. State Street Corp lifted its holdings in CNX Resources by 15.6% during the 1st quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock worth $270,061,000 after purchasing an additional 1,760,214 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CNX Resources by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,533,370 shares of the oil and gas producer’s stock valued at $52,492,000 after purchasing an additional 22,477 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of CNX Resources by 47.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,304,257 shares of the oil and gas producer’s stock valued at $38,805,000 after acquiring an additional 741,124 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Company Profile

(Get Free Report

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 (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.

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Analyst Recommendations for CNX Resources (NYSE:CNX)

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