CNX Resources (NYSE:CNX) PT Raised to $27.00 at Scotiabank

CNX Resources (NYSE:CNX) had its price objective increased by investment analysts at Scotiabank from $25.00 to $27.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “sector underperform” rating on the oil and gas producer’s stock. Scotiabank’s target price points to a potential upside of 0.93% from the company’s previous close.

Several other brokerages also recently commented on CNX. Stephens restated an “equal weight” rating and set a $27.00 price objective on shares of CNX Resources in a research report on Monday, July 15th. Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Mizuho raised their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Truist Financial boosted their target price on CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.57.

CNX Resources Stock Down 0.5 %

Shares of NYSE CNX opened at $26.75 on Tuesday. The stock has a market capitalization of $4.10 billion, a P/E ratio of 4.85 and a beta of 1.37. The stock’s fifty day moving average is $25.34 and its 200 day moving average is $23.82. CNX Resources has a 52 week low of $19.07 and a 52 week high of $27.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The firm had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. During the same period in the prior year, the company posted $0.29 earnings per share. Sell-side analysts forecast that CNX Resources will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of CNX Resources

Hedge funds have recently made changes to their positions in the company. Mizuho Markets Americas LLC acquired a new position in shares of CNX Resources during the second quarter worth $97,200,000. LSV Asset Management increased its stake in shares of CNX Resources by 223.4% in the fourth quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock valued at $29,787,000 after buying an additional 1,028,805 shares during the period. American Century Companies Inc. raised its position in shares of CNX Resources by 12.0% during the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after acquiring an additional 397,729 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of CNX Resources by 197.0% in the second quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock worth $11,324,000 after acquiring an additional 309,100 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in CNX Resources by 533.4% in the first quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock valued at $6,795,000 after acquiring an additional 241,250 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

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.