CNX Resources (CNX) Upgraded to Sell by ValuEngine

ValuEngine upgraded shares of CNX Resources (NYSE:CNX) from a strong sell rating to a sell rating in a research note released on Friday morning.

Several other research firms also recently commented on CNX. Zacks Investment Research downgraded CNX Resources from a hold rating to a sell rating in a research report on Wednesday, July 11th. Raymond James reaffirmed a sell rating on shares of CNX Resources in a research report on Thursday, August 30th. Finally, Goldman Sachs Group downgraded CNX Resources from a neutral rating to a sell rating and set a $14.00 target price on the stock. in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. CNX Resources presently has a consensus rating of Hold and a consensus price target of $21.00.

NYSE CNX traded up $0.02 during trading on Friday, reaching $14.16. 2,055,127 shares of the company’s stock were exchanged, compared to its average volume of 3,061,327. The company has a market cap of $3.05 billion, a PE ratio of -88.50 and a beta of 1.03. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.47. CNX Resources has a fifty-two week low of $11.69 and a fifty-two week high of $18.37.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas producer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.21. CNX Resources had a return on equity of 2.37% and a net margin of 40.07%. The firm had revenue of $402.12 million for the quarter, compared to the consensus estimate of $381.22 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that CNX Resources will post 0.74 EPS for the current fiscal year.

In other news, Director J. Palmer Clarkson bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were bought at an average price of $14.90 per share, with a total value of $149,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CNX. Point72 Asia Hong Kong Ltd bought a new stake in CNX Resources during the first quarter worth $123,000. Sciencast Management LP bought a new stake in CNX Resources during the first quarter worth $174,000. Commonwealth Equity Services LLC lifted its stake in CNX Resources by 61.8% during the first quarter. Commonwealth Equity Services LLC now owns 16,253 shares of the oil and gas producer’s stock worth $250,000 after purchasing an additional 6,205 shares during the last quarter. Strs Ohio bought a new stake in CNX Resources during the second quarter worth $299,000. Finally, Bayesian Capital Management LP bought a new stake in CNX Resources during the first quarter worth $347,000. 95.60% of the stock is currently owned by institutional investors.

CNX Resources Company Profile

CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.

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Analyst Recommendations for CNX Resources (NYSE:CNX)

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