CNX Resources Corp (CNX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of CNX Resources Corp (NYSE:CNX) have earned an average rating of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.22.

Several brokerages have commented on CNX. Zacks Investment Research raised shares of CNX Resources from a “sell” rating to a “hold” rating in a research note on Monday, March 12th. ValuEngine raised shares of CNX Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Tudor Pickering raised shares of CNX Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Barclays set a $16.00 target price on shares of CNX Resources and gave the company a “hold” rating in a research note on Tuesday, December 12th. Finally, SunTrust Banks raised shares of CNX Resources from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th.

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Several hedge funds have recently modified their holdings of CNX. Point72 Asset Management L.P. increased its position in shares of CNX Resources by 246.8% during the third quarter. Point72 Asset Management L.P. now owns 3,036,902 shares of the oil and gas producer’s stock worth $51,445,000 after acquiring an additional 2,161,302 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of CNX Resources by 224.5% during the third quarter. JPMorgan Chase & Co. now owns 1,939,209 shares of the oil and gas producer’s stock worth $31,939,000 after acquiring an additional 1,341,595 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of CNX Resources by 42.9% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 4,384,926 shares of the oil and gas producer’s stock worth $64,151,000 after acquiring an additional 1,316,915 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of CNX Resources by 13.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,802,888 shares of the oil and gas producer’s stock worth $182,996,000 after acquiring an additional 1,308,911 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in shares of CNX Resources during the fourth quarter worth $18,183,000. 95.50% of the stock is owned by institutional investors.

Shares of CNX Resources stock traded up $0.14 during trading hours on Friday, reaching $15.41. 2,906,582 shares of the company’s stock traded hands, compared to its average volume of 5,445,007. CNX Resources has a 1 year low of $11.29 and a 1 year high of $18.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.93 and a quick ratio of 1.91. The company has a market capitalization of $3,448.11, a P/E ratio of 9.28 and a beta of 1.26.

CNX Resources (NYSE:CNX) last issued its earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. CNX Resources had a net margin of 14.03% and a return on equity of 1.36%. The firm had revenue of $333.30 million during the quarter, compared to the consensus estimate of $331.76 million. During the same quarter in the prior year, the firm earned ($1.33) earnings per share. The business’s quarterly revenue was up 19.0% on a year-over-year basis. equities analysts forecast that CNX Resources will post 0.52 earnings per share for the current year.

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About CNX Resources

CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.

Analyst Recommendations for CNX Resources (NYSE:CNX)

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