CNX Resources Co. (NYSE:CNX) Receives Consensus Recommendation of “Strong Sell” from Brokerages

Shares of CNX Resources Co. (NYSE:CNX) have been given an average recommendation of “Strong Sell” by the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $29.67.

Several research firms recently commented on CNX. Morgan Stanley assumed coverage on shares of CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective for the company. Truist Financial increased their price objective on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Piper Sandler decreased their price target on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Finally, Bank of America assumed coverage on CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 price target on the stock.

CNX Resources Stock Down 2.1 %

Shares of NYSE CNX opened at $29.66 on Friday. CNX Resources has a 12-month low of $19.97 and a 12-month high of $41.93. The stock’s fifty day simple moving average is $31.75 and its two-hundred day simple moving average is $32.54. The stock has a market capitalization of $4.41 billion, a PE ratio of -43.61, a price-to-earnings-growth ratio of 0.40 and a beta of 1.38. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, analysts expect that CNX Resources will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CNX Resources

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its position in shares of CNX Resources by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after acquiring an additional 442 shares in the last quarter. Bessemer Group Inc. raised its stake in CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 526 shares during the last quarter. Xponance Inc. lifted its holdings in CNX Resources by 2.9% in the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock valued at $766,000 after purchasing an additional 588 shares in the last quarter. Principal Securities Inc. boosted its stake in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC grew its holdings in shares of CNX Resources by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock worth $3,311,000 after buying an additional 759 shares in the last quarter. Hedge funds and other 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.