CNX Resources Co. (NYSE:CNX) Given Average Recommendation of “Strong Sell” by Analysts

Shares of CNX Resources Co. (NYSE:CNX) have been given an average rating of “Strong Sell” by the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $29.67.

Several equities analysts have weighed in on the company. Mizuho lowered their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley assumed coverage on CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 target price on the stock. Stephens lifted their target price on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Bank of America started coverage on CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 target price on the stock. Finally, TD Cowen started coverage on CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target for the company.

CNX Resources Stock Performance

CNX stock opened at $30.50 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of -44.84, a PEG ratio of 0.39 and a beta of 1.38. CNX Resources has a 1 year low of $19.58 and a 1 year high of $41.93. The stock’s fifty day moving average is $32.09 and its two-hundred day moving average is $32.57.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, research analysts predict that CNX Resources will post 2.36 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Woodline Partners LP bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $71,971,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $37,923,000. Millennium Management LLC increased its position in shares of CNX Resources by 69.1% during the fourth quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer’s stock valued at $42,339,000 after purchasing an additional 471,763 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after purchasing an additional 466,694 shares during the period. Finally, Northern Trust Corp increased its position in shares of CNX Resources by 20.5% during the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer’s stock valued at $88,792,000 after purchasing an additional 411,485 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.