Piper Sandler Increases CNX Resources (NYSE:CNX) Price Target to $22.00

CNX Resources (NYSE:CNX) had its price objective hoisted by stock analysts at Piper Sandler from $18.00 to $22.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s target price suggests a potential downside of 8.18% from the company’s current price.

CNX has been the subject of a number of other research reports. Mizuho boosted their price objective on shares of CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Bank of America raised CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a research report on Friday, January 5th. Scotiabank raised their price objective on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. Truist Financial lifted their target price on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Roth Mkm increased their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.43.

CNX Resources Trading Up 1.1 %

Shares of NYSE:CNX traded up $0.26 on Friday, hitting $23.96. 841,396 shares of the company’s stock were exchanged, compared to its average volume of 2,950,103. The business’s 50 day simple moving average is $22.07 and its two-hundred day simple moving average is $21.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 2.64 and a beta of 1.33. CNX Resources has a 12 month low of $14.36 and a 12 month high of $24.82.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $401.62 million. During the same period in the previous year, the company earned $1.64 EPS. The firm’s quarterly revenue was down 38.9% on a year-over-year basis. Analysts anticipate that CNX Resources will post 1.31 EPS for the current fiscal year.

Insider Transactions at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the business’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 of the company’s stock, valued at approximately $1,416,065.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

A number of large investors have recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new stake in CNX Resources in the third quarter valued at $26,000. BluePath Capital Management LLC purchased a new stake in shares of CNX Resources in the third quarter worth about $32,000. Castleview Partners LLC acquired a new stake in CNX Resources during the third quarter worth about $41,000. KBC Group NV purchased a new position in CNX Resources during the fourth quarter valued at approximately $44,000. Finally, Hexagon Capital Partners LLC lifted its holdings in CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,136 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.