CNX Resources (NYSE:CNX) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of CNX Resources (NYSE:CNX) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

A number of other analysts also recently issued reports on CNX. Bank of America lifted their price objective on CNX Resources from $21.00 to $23.00 in a research note on Wednesday, September 27th. Stephens reissued an equal weight rating and set a $24.00 target price on shares of CNX Resources in a research report on Thursday, October 12th. Scotiabank downgraded CNX Resources from a sector perform rating to a sector underperform rating in a research report on Wednesday, September 13th. Piper Sandler boosted their target price on CNX Resources from $16.00 to $19.00 and gave the company a neutral rating in a research report on Monday, August 14th. Finally, Mizuho boosted their target price on CNX Resources from $22.00 to $24.00 and gave the company an underperform rating in a research report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $22.20.

CNX Resources Stock Performance

NYSE:CNX opened at $21.17 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.30 and a quick ratio of 0.28. CNX Resources has a 1 year low of $14.36 and a 1 year high of $23.68. The stock’s 50 day simple moving average is $22.07 and its two-hundred day simple moving average is $19.62. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 1.78, a PEG ratio of 2.45 and a beta of 1.42.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. CNX Resources had a return on equity of 15.80% and a net margin of 58.04%. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $387.49 million. As a group, equities analysts anticipate that CNX Resources will post 1.53 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 45,805 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was bought at an average price of $21.83 per share, for a total transaction of $999,923.15. Following the acquisition, the director now directly owns 251,820 shares in the company, valued at $5,497,230.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CNX Resources news, Director Bernard Lanigan, Jr. bought 45,805 shares of CNX Resources stock in a transaction that occurred on Monday, September 18th. The shares were bought at an average cost of $21.83 per share, with a total value of $999,923.15. Following the transaction, the director now directly owns 251,820 shares of the company’s stock, valued at approximately $5,497,230.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernard Lanigan, Jr. acquired 98,635 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $2,169,970.00. Following the completion of the acquisition, the director now directly owns 206,015 shares of the company’s stock, valued at approximately $4,532,330. The disclosure for this purchase can be found here. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Duality Advisers LP increased its holdings in shares of CNX Resources by 4.2% in the first quarter. Duality Advisers LP now owns 105,133 shares of the oil and gas producer’s stock valued at $1,684,000 after purchasing an additional 4,195 shares during the period. Delphia USA Inc. increased its holdings in shares of CNX Resources by 16.6% in the first quarter. Delphia USA Inc. now owns 23,091 shares of the oil and gas producer’s stock valued at $370,000 after purchasing an additional 3,294 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of CNX Resources by 38.0% in the first quarter. Vanguard Personalized Indexing Management LLC now owns 20,968 shares of the oil and gas producer’s stock valued at $336,000 after purchasing an additional 5,775 shares during the period. Parkwood LLC boosted its stake in shares of CNX Resources by 27.2% in the first quarter. Parkwood LLC now owns 422,538 shares of the oil and gas producer’s stock worth $6,769,000 after buying an additional 90,258 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of CNX Resources by 9.4% in the second quarter. Peregrine Capital Management LLC now owns 488,685 shares of the oil and gas producer’s stock worth $8,659,000 after buying an additional 41,886 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

About CNX Resources

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.