CNX Resources (NYSE:CNX) Stock Price Expected to Rise, Truist Financial Analyst Says

CNX Resources (NYSE:CNX) had its target price boosted by Truist Financial from $34.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price objective would suggest a potential downside of 4.94% from the company’s previous close.

Several other brokerages have also recently weighed in on CNX. Piper Sandler raised their price target on shares of CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research report on Friday. Mizuho lifted their target price on CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Bank of America initiated coverage on CNX Resources in a research report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price target for the company. Scotiabank lifted their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Stephens increased their target price on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, CNX Resources currently has a consensus rating of “Reduce” and an average target price of $30.00.

CNX Resources Trading Down 3.6 %

Shares of CNX Resources stock opened at $36.82 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. CNX Resources has a 52 week low of $19.07 and a 52 week high of $41.93. The stock has a 50 day moving average price of $36.83 and a two-hundred day moving average price of $29.96. The stock has a market capitalization of $5.50 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The business had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, equities analysts anticipate that CNX Resources will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This represents a 22.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNX. Sequoia Financial Advisors LLC lifted its holdings in CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after purchasing an additional 442 shares during the last quarter. Pullen Investment Management LLC raised its position in shares of CNX Resources by 2.3% in the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock valued at $666,000 after purchasing an additional 623 shares during the period. GAMMA Investing LLC lifted its stake in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 666 shares in the last quarter. CWM LLC boosted its holdings in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 935 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in CNX Resources by 3.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after buying an additional 941 shares in the last quarter. 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.