CNX Resources (NYSE:CNX) Price Target Cut to $15.00 by Analysts at Truist

CNX Resources (NYSE:CNX) had its price target cut by Truist from $16.00 to $15.00 in a research report released on Friday, The Fly reports.

Several other brokerages also recently commented on CNX. Zacks Investment Research downgraded shares of CNX Resources from a buy rating to a hold rating and set a $15.00 price target on the stock. in a report on Thursday, December 9th. Truist Securities upped their target price on shares of CNX Resources from $14.00 to $15.00 and gave the stock a hold rating in a research note on Thursday, October 7th. JPMorgan Chase & Co. downgraded shares of CNX Resources from an overweight rating to a neutral rating and dropped their target price for the stock from $20.00 to $18.00 in a research note on Tuesday, December 7th. Finally, Raymond James downgraded shares of CNX Resources from an outperform rating to an underperform rating in a research note on Tuesday, October 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $15.90.

NYSE:CNX opened at $15.79 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.69. CNX Resources has a 12 month low of $10.41 and a 12 month high of $16.08. The company has a market cap of $3.33 billion, a PE ratio of -3.62, a price-to-earnings-growth ratio of 0.20 and a beta of 1.42. The company has a 50 day simple moving average of $14.29 and a two-hundred day simple moving average of $13.18.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 28th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.42. The business had revenue of $496.00 million for the quarter, compared to the consensus estimate of $413.01 million. During the same period in the previous year, the firm earned $0.04 EPS. The company’s revenue was up 52.6% on a year-over-year basis. Research analysts forecast that CNX Resources will post 1.83 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its holdings in CNX Resources by 116.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,872 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 1,007 shares in the last quarter. Liberty Wealth Management LLC grew its holdings in CNX Resources by 197.4% during the 3rd quarter. Liberty Wealth Management LLC now owns 2,498 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 1,658 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in CNX Resources by 1,080.3% during the 3rd quarter. Dark Forest Capital Management LP now owns 2,632 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 2,409 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in CNX Resources by 154.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,002 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 1,823 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in CNX Resources during the 2nd quarter worth approximately $115,000. 91.86% of the stock is currently owned by institutional investors.

About CNX Resources

CNX Resources Corp. is an independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. The company deploys an organic growth strategy focused on responsibly developing its resource base. The firm operates through the Marcellus Shale, and Coalbed Methane segments.

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