CNX Resources Co. (NYSE:CNX) Receives $24.43 Average Target Price from Brokerages

CNX Resources Co. (NYSE:CNX) has earned an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.43.

A number of brokerages have recently issued reports on CNX. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research note on Friday, January 5th. Scotiabank boosted their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. Roth Mkm increased their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Piper Sandler raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Finally, Mizuho upped their price target on shares of CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th.

Insider Activity at CNX Resources

In other news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.83, for a total value of $25,537.58. Following the sale, the executive vice president now owns 67,982 shares in the company, valued at $1,416,065.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNX Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new position in CNX Resources during the third quarter worth about $26,000. BluePath Capital Management LLC purchased a new position in CNX Resources during the third quarter worth about $32,000. Castleview Partners LLC purchased a new position in CNX Resources during the third quarter worth about $41,000. Hexagon Capital Partners LLC raised its stake in CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,136 shares during the period. Finally, Adirondack Trust Co. purchased a new position in CNX Resources during the third quarter worth about $54,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Trading Up 0.3 %

Shares of CNX opened at $24.01 on Friday. The company’s fifty day moving average is $22.59 and its 200 day moving average is $21.42. CNX Resources has a fifty-two week low of $14.36 and a fifty-two week high of $24.82. The stock has a market capitalization of $3.68 billion, a PE ratio of 2.64 and a beta of 1.33. 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 (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, topping the consensus estimate of $0.30 by $2.59. The company had revenue of $999.50 million during the quarter, compared to analyst estimates of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. CNX Resources’s quarterly revenue was down 38.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. Sell-side analysts expect that CNX Resources will post 1.29 earnings per share for the current fiscal year.

About CNX Resources

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.