CNX Resources Co. (NYSE:CNX) Receives Consensus Rating of “Hold” from Analysts
Shares of CNX Resources Co. (NYSE:CNX – Get Rating) received an average rating of “Hold” by the ten rating companies that cover the stock, reports MarketBeat Ratings. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The 12-month average price target among brokerages that have covered the stock over the past year is $20.75.
CNX has been the subject of several recent analyst reports. Wells Fargo & Company raised its price target on CNX Resources shares from $23.00 to $26.00 and gave the company an “overweight” rating in a Monday, March 14 report. Stifel Nicolaus raised his price target on CNX Resources shares from $29.00 to $33.00 in a Thursday, April 28 research note. Truist Financial raised its target price on CNX Resources shares from $16.00 to $22.00 in a Thursday, April 21 research note. StockNews.com began covering CNX Resources shares in a research note on Thursday, March 31. They set a “holding” rating for the company. Finally, Piper Sandler lowered her price target on CNX Resources shares to $23.00 and set an “na” rating for the company in a Wednesday, May 18 research note.
CNX opened at $23.24 on Friday. The stock has a market capitalization of $4.53 billion, a PE ratio of -3.15, a P/E/G ratio of 0.40 and a beta of 1.28. The company’s fifty-day moving average price is $21.17 and its 200-day moving average price is $17.73. The company has a debt ratio of 0.74, a current ratio of 0.20 and a quick ratio of 0.19. CNX Resources has a 12-month low of $10.41 and a 12-month high of $24.21.
CNX Resources (NYSE:CNX – Get Rating) last released its quarterly results on Thursday, April 28. The oil and gas producer reported earnings per share (EPS) of $0.79 for the quarter, beating the consensus estimate of $0.60 by $0.19. The company posted revenue of $913.10 million in the quarter, compared to analyst estimates of $519.43 million. The company’s revenue decreased 293.0% year over year. In the same period a year earlier, the company had earned earnings per share of $0.36. On average, equity research analysts expect CNX Resources to post 3 earnings per share for the current fiscal year.
Several institutional investors have recently increased or reduced their stake in CNX. Liberty Wealth Management LLC increased its position in CNX Resources shares by 197.4% during the third quarter. Liberty Wealth Management LLC now owns 2,498 shares of the oil and gas producer worth $33,000 after acquiring 1,658 additional shares in the last quarter. Dark Forest Capital Management LP increased its position in CNX Resources shares by 1,080.3% during the third quarter. Dark Forest Capital Management LP now owns 2,632 shares of the oil and gas producer worth $33,000 after acquiring 2,409 additional shares in the last quarter. Lazard Asset Management LLC bought a new position in CNX Resources stock during the fourth quarter worth approximately $35,000. Confluence Wealth Services Inc. bought a new position in CNX Resources in Q4 worth approximately $37,000. Finally, Point72 Hong Kong Ltd increased its position in CNX Resources by 154.6% in the third quarter. Point72 Hong Kong Ltd now owns 3,002 shares in the oil and gas producer valued at $38,000 after buying an additional 1,823 shares last quarter. Institutional investors and hedge funds hold 95.34% of the company’s shares.
About CNX Resources (Get an assessment)
CNX Resources Corporation, an independent natural gas company and midstream, acquires, explores, develops and produces natural gas properties in the Appalachian Basin. The Company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline-grade natural gas primarily for gas wholesalers.
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