CNX Resources (NYSE:CNX) Hits New 12-Month High at $26.58

CNX Resources Co. (NYSE:CNX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.58 and last traded at $26.32, with a volume of 351730 shares trading hands. The stock had previously closed at $25.91.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNX. Truist Financial increased their target price on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Roth Mkm increased their target price on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Stephens reiterated an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday. Piper Sandler raised their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Mizuho raised their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, CNX Resources currently has an average rating of “Hold” and an average price target of $25.43.

CNX Resources Stock Up 2.0 %

The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 4.78 and a beta of 1.38. The business has a 50 day simple moving average of $24.77 and a 200-day simple moving average of $22.73. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. The business had revenue of $381.00 million during the quarter, compared to the consensus estimate of $420.13 million. On average, equities analysts expect that CNX Resources Co. will post 1.35 EPS for the current year.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently modified their holdings of CNX. Comerica Bank acquired a new stake in shares of CNX Resources during the 3rd quarter worth about $4,054,000. American Century Companies Inc. increased its stake in CNX Resources by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer’s stock worth $48,641,000 after buying an additional 217,753 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in CNX Resources during the 3rd quarter worth approximately $1,343,000. Shilanski & Associates Inc. increased its stake in CNX Resources by 4.9% during the 4th quarter. Shilanski & Associates Inc. now owns 65,434 shares of the oil and gas producer’s stock worth $1,309,000 after buying an additional 3,074 shares during the period. Finally, Ervin Investment Management LLC increased its stake in CNX Resources by 20.9% during the 4th quarter. Ervin Investment Management LLC now owns 13,900 shares of the oil and gas producer’s stock worth $278,000 after buying an additional 2,400 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

About CNX Resources

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.