Mizuho Forecasts Strong Price Appreciation for CNX Resources (NYSE:CNX) Stock

CNX Resources (NYSE:CNX) had its price target hoisted by investment analysts at Mizuho from $34.00 to $35.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underperform” rating on the oil and gas producer’s stock. Mizuho’s price objective indicates a potential upside of 19.45% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. Piper Sandler decreased their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, January 29th. Bank of America dropped their price target on shares of CNX Resources from $32.00 to $27.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 1st. Finally, Morgan Stanley set a $33.00 target price on CNX Resources and gave the company an “underweight” rating in a research note on Wednesday, March 26th. Nine equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $30.92.

CNX Resources Stock Up 0.3 %

NYSE:CNX traded up $0.10 on Monday, hitting $29.30. 1,267,283 shares of the company’s stock traded hands, compared to its average volume of 2,655,416. The company has a market cap of $4.31 billion, a PE ratio of -42.64, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. CNX Resources has a 1 year low of $22.82 and a 1 year high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $30.03 and a 200-day moving average price of $33.41.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Equities analysts anticipate that CNX Resources will post 2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new position in shares of CNX Resources in the 4th quarter worth approximately $146,000. Heck Capital Advisors LLC acquired a new position in CNX Resources during the fourth quarter worth $121,000. Pullen Investment Management LLC boosted its stake in shares of CNX Resources by 2.7% in the 4th quarter. Pullen Investment Management LLC now owns 32,151 shares of the oil and gas producer’s stock valued at $1,179,000 after purchasing an additional 841 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of CNX Resources in the 4th quarter worth about $88,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of CNX Resources during the 4th quarter worth about $1,684,000. Institutional investors own 95.16% of the company’s stock.

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.