Truist Financial Boosts CNX Resources (NYSE:CNX) Price Target to $31.00

CNX Resources (NYSE:CNX) had its price objective upped by Truist Financial from $30.00 to $31.00 in a research report released on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

A number of other brokerages have also issued reports on CNX. Scotiabank raised their price target on CNX Resources from $20.00 to $25.00 and gave the stock a sector underperform rating in a research note on Thursday, April 11th. Stephens reissued an equal weight rating and set a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Mizuho raised their price target on CNX Resources from $25.00 to $29.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Roth Mkm raised their price target on CNX Resources from $18.00 to $22.00 and gave the stock a neutral rating in a research note on Tuesday, April 2nd. Finally, Piper Sandler lifted their target price on CNX Resources from $18.00 to $22.00 and gave the company a neutral rating in a research report on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, CNX Resources currently has an average rating of Hold and a consensus price target of $25.57.

CNX Resources Price Performance

NYSE:CNX opened at $24.91 on Monday. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 4.51 and a beta of 1.37. CNX Resources has a 1 year low of $18.17 and a 1 year high of $26.60. The business has a 50 day simple moving average of $25.10 and a 200-day simple moving average of $23.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.51.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $420.13 million. Equities analysts forecast that CNX Resources will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of CNX Resources in the 4th quarter valued at $798,000. Parkwood LLC increased its holdings in shares of CNX Resources by 11.2% in the 4th quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock valued at $9,809,000 after acquiring an additional 49,278 shares during the period. Duality Advisers LP increased its holdings in shares of CNX Resources by 61.1% in the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock valued at $3,112,000 after acquiring an additional 49,741 shares during the period. Moloney Securities Asset Management LLC purchased a new position in shares of CNX Resources in the 1st quarter valued at $986,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of CNX Resources by 243.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock valued at $1,723,000 after acquiring an additional 51,490 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.