CNX Resources Corp (CNX) Given Consensus Rating of “Hold” by Analysts

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CNX Resources Corp (NYSE:CNX) has received an average rating of “Hold” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $15.40.

A number of equities research analysts have recently issued reports on CNX shares. Robert W. Baird restated a “buy” rating and set a $15.00 price objective on shares of CNX Resources in a report on Monday, February 4th. MKM Partners started coverage on CNX Resources in a report on Wednesday, December 5th. They set a “buy” rating and a $19.00 price objective for the company. TheStreet cut CNX Resources from a “b-” rating to a “c+” rating in a report on Wednesday, March 6th. Susquehanna Bancshares set a $11.00 price objective on CNX Resources and gave the stock a “hold” rating in a report on Saturday, February 2nd. Finally, Tudor Pickering cut CNX Resources from a “buy” rating to a “hold” rating in a report on Friday, February 1st.

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, December 19th. The stock was bought at an average cost of $11.95 per share, for a total transaction of $1,195,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNX. Strs Ohio raised its position in shares of CNX Resources by 22.7% in the third quarter. Strs Ohio now owns 20,682 shares of the oil and gas producer’s stock valued at $295,000 after buying an additional 3,828 shares in the last quarter. Arizona State Retirement System raised its position in shares of CNX Resources by 11.1% in the third quarter. Arizona State Retirement System now owns 151,282 shares of the oil and gas producer’s stock valued at $2,165,000 after buying an additional 15,120 shares in the last quarter. Chicago Equity Partners LLC raised its position in shares of CNX Resources by 701.0% in the third quarter. Chicago Equity Partners LLC now owns 92,115 shares of the oil and gas producer’s stock valued at $1,318,000 after buying an additional 80,615 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of CNX Resources by 74.1% in the third quarter. Wells Fargo & Company MN now owns 155,513 shares of the oil and gas producer’s stock valued at $2,225,000 after buying an additional 66,210 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $162,000. Institutional investors own 99.20% of the company’s stock.

CNX Resources stock opened at $10.65 on Friday. CNX Resources has a 52 week low of $9.58 and a 52 week high of $18.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.96 and a quick ratio of 0.94. The stock has a market cap of $2.11 billion, a P/E ratio of 6.96 and a beta of 0.79.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 31st. The oil and gas producer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.39. CNX Resources had a return on equity of 5.91% and a net margin of 46.03%. The business had revenue of $435.46 million during the quarter, compared to analysts’ expectations of $436.26 million. During the same quarter last year, the company posted ($0.23) earnings per share. As a group, sell-side analysts predict that CNX Resources will post 0.61 EPS for the current year.

About CNX Resources

CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.

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Analyst Recommendations for CNX Resources (NYSE:CNX)

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