CNX Resources (NYSE:CNX) PT Raised to $38.00

CNX Resources (NYSE:CNX) had its target price lifted by Truist Financial from $31.00 to $38.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

Other research analysts have also issued research reports about the company. Stephens reissued an equal weight rating and set a $27.00 price objective on shares of CNX Resources in a report on Monday, July 15th. Mizuho raised their price objective on shares of CNX Resources from $30.00 to $32.00 and gave the company a neutral rating in a research report on Monday, September 16th. Piper Sandler cut CNX Resources from a neutral rating to an underweight rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on CNX Resources from $26.00 to $27.00 and gave the stock a neutral rating in a research note on Thursday, September 12th. Finally, Scotiabank raised their price objective on CNX Resources from $25.00 to $27.00 and gave the company a sector underperform rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, CNX Resources presently has a consensus rating of Hold and an average price target of $27.00.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $33.06 on Monday. The company has a 50 day moving average of $27.69 and a 200 day moving average of $25.57. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The stock has a market cap of $5.07 billion, a P/E ratio of 5.99 and a beta of 1.37. CNX Resources has a 12 month low of $19.07 and a 12 month high of $33.31.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the prior year, the firm posted $0.29 earnings per share. As a group, sell-side analysts forecast that CNX Resources will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 1,136 shares in the last quarter. Natixis purchased a new stake in shares of CNX Resources in the 1st quarter worth about $79,000. Innealta Capital LLC bought a new position in shares of CNX Resources in the 2nd quarter worth about $131,000. Finally, TFO Wealth Partners LLC lifted its position in CNX Resources by 64,084.6% during the 4th quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock valued at $167,000 after acquiring an additional 8,331 shares during the period. 95.16% of the stock is owned by 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.