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

Shares of CNX Resources Co. (NYSE:CNX) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $24.43.

CNX has been the subject of several recent analyst reports. 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. 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 report on Thursday, April 11th. Truist Financial upped their target price on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Roth Mkm boosted their price objective 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. Finally, Scotiabank upped their target price on shares of CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $24.21 on Friday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 2.66 and a beta of 1.33. CNX Resources has a one year low of $14.36 and a one year high of $24.82. The company has a 50-day simple moving average of $22.43 and a 200-day simple moving average of $21.40. 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 results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $999.50 million during the quarter, compared to analysts’ expectations of $401.62 million. During the same period in the prior year, the company posted $1.64 earnings per share. The firm’s revenue for the quarter was down 38.9% on a year-over-year basis. On average, analysts predict that CNX Resources will post 1.29 EPS for the current year.

Insider Buying and Selling

In related news, EVP Timothy Scott Bedard acquired 1,226 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $20.50 per share, for a total transaction of $25,133.00. Following the completion of the acquisition, the executive vice president now directly owns 1,226 shares in the company, valued at $25,133. The purchase was disclosed in a filing with the SEC, which is available at this link. 4.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

Institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management bought a new stake in CNX Resources during the third quarter worth about $26,000. BluePath Capital Management LLC bought a new position in shares of CNX Resources in the 3rd quarter worth $32,000. Castleview Partners LLC bought a new position in shares of CNX Resources in the 3rd quarter worth $41,000. Hexagon Capital Partners LLC lifted its holdings in shares of CNX Resources by 113.4% in the 1st 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 in the last quarter. Finally, Adirondack Trust Co. purchased a new position in CNX Resources during the 3rd quarter worth $54,000. 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.