Brokerages Set CNX Resources Co. (NYSE:CNX) PT at $23.40

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.40.

Several research analysts have commented on CNX shares. Mizuho upped their price objective on shares of CNX Resources from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price on the stock in a research report on Friday, January 5th. Truist Financial upped their target price on shares of CNX Resources from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Piper Sandler upped their target price on shares of CNX Resources from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Finally, StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.

Insider Transactions at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the sale, the executive vice president now owns 67,982 shares in the company, valued at approximately $1,416,065.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in CNX Resources by 6.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,211 shares of the oil and gas producer’s stock worth $1,538,000 after purchasing an additional 4,188 shares during the last quarter. Great West Life Assurance Co. Can increased its position in CNX Resources by 7.2% during the first quarter. Great West Life Assurance Co. Can now owns 117,180 shares of the oil and gas producer’s stock valued at $2,502,000 after acquiring an additional 7,871 shares during the last quarter. Sei Investments Co. increased its position in CNX Resources by 7.8% during the first quarter. Sei Investments Co. now owns 249,181 shares of the oil and gas producer’s stock valued at $5,208,000 after acquiring an additional 17,930 shares during the last quarter. Canada Pension Plan Investment Board increased its position in CNX Resources by 39.2% during the first quarter. Canada Pension Plan Investment Board now owns 104,255 shares of the oil and gas producer’s stock valued at $2,160,000 after acquiring an additional 29,348 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in CNX Resources by 26.2% during the first quarter. Allianz Asset Management GmbH now owns 53,619 shares of the oil and gas producer’s stock valued at $1,111,000 after acquiring an additional 11,142 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Down 0.1 %

Shares of CNX opened at $23.71 on Tuesday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 2.61, a PEG ratio of 1.52 and a beta of 1.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51. CNX Resources has a fifty-two week low of $14.36 and a fifty-two week high of $24.00. The firm has a 50 day moving average price of $20.90 and a 200-day moving average price of $21.13.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The company had revenue of $999.50 million during the quarter, compared to analyst estimates of $401.62 million. During the same period in the prior year, the business posted $1.64 EPS. The firm’s revenue was down 38.9% compared to the same quarter last year. As a group, equities research analysts forecast that CNX Resources will post 1.48 earnings per share for the current year.

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.