CNX Resources (NYSE:CNX) Given New $21.00 Price Target at Truist Financial

CNX Resources (NYSE:CNXFree Report) had its price target lifted by Truist Financial from $19.00 to $21.00 in a research note released on Monday, MarketBeat reports. They currently have a hold rating on the oil and gas producer’s stock.

A number of other research firms have also commented on CNX. StockNews.com initiated coverage on shares of CNX Resources in a research report on Thursday, August 17th. They set a hold rating for the company. Piper Sandler upped their target price on CNX Resources from $16.00 to $19.00 and gave the stock a neutral rating in a research note on Monday, August 14th. Finally, Mizuho lifted their price target on CNX Resources from $18.00 to $22.00 and gave the company an underperform rating in a research report on Wednesday, August 16th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $20.40.

Get Our Latest Stock Report on CNX Resources

CNX Resources Stock Down 1.6 %

Shares of NYSE CNX opened at $22.16 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.58 billion, a P/E ratio of 2.34, a P/E/G ratio of 2.51 and a beta of 1.36. CNX Resources has a 52 week low of $14.36 and a 52 week high of $22.97. The business has a 50-day simple moving average of $20.67 and a two-hundred day simple moving average of $17.66.

CNX Resources (NYSE:CNXGet Free Report) last released its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $839.70 million during the quarter, compared to analyst estimates of $386.68 million. CNX Resources had a net margin of 49.95% and a return on equity of 12.98%. CNX Resources’s revenue was up 99.7% compared to the same quarter last year. During the same period last year, the business earned $0.61 earnings per share. Research analysts anticipate that CNX Resources will post 1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

Hedge funds have recently added to or reduced their stakes in the company. Southeastern Asset Management Inc. TN lifted its position in CNX Resources by 19.9% in the 1st quarter. Southeastern Asset Management Inc. TN now owns 13,758,674 shares of the oil and gas producer’s stock worth $220,414,000 after buying an additional 2,279,108 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of CNX Resources in the 2nd quarter worth approximately $35,250,000. State Street Corp boosted its stake in shares of CNX Resources by 15.6% in the 1st quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock valued at $270,061,000 after purchasing an additional 1,760,214 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of CNX Resources by 10.5% during the 3rd 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. Finally, Renaissance Technologies LLC raised its position in CNX Resources by 2,477.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,513,616 shares of the oil and gas producer’s stock worth $31,362,000 after purchasing an additional 1,454,887 shares during the period. Institutional investors own 95.16% of the company’s stock.

About CNX Resources

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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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