CNX Resources (NYSE:CNX – Get Free Report) had its price objective lifted by investment analysts at Truist Financial from $28.00 to $30.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective points to a potential upside of 24.38% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Roth Mkm raised their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho raised their target price on CNX Resources from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Bank of America raised CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research report on Friday, January 5th. Finally, Piper Sandler raised their target price on CNX Resources from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Two 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. Based on data from MarketBeat, CNX Resources has a consensus rating of “Hold” and an average price target of $23.50.
Check Out Our Latest Stock Report on CNX Resources
CNX Resources Stock Up 0.9 %
Shares of CNX Resources stock opened at $24.12 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $21.37 and its 200-day simple moving average is $21.20. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 2.65, a PEG ratio of 1.71 and a beta of 1.33. CNX Resources has a twelve month low of $14.36 and a twelve month high of $24.34.
CNX Resources (NYSE:CNX – Get Free Report) last posted its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, beating the consensus estimate of $0.30 by $2.59. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The firm had revenue of $999.50 million for the quarter, compared to analysts’ expectations of $401.62 million. During the same period last year, the firm earned $1.64 EPS. The firm’s revenue was down 38.9% compared to the same quarter last year. Equities research analysts forecast that CNX Resources will post 1.38 earnings per share for the current year.
Insider Buying and Selling at CNX Resources
In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now directly owns 67,982 shares in the company, valued at $1,416,065.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.10% of the company’s stock.
Hedge Funds Weigh In On CNX Resources
Institutional investors have recently made changes to their positions in the business. Neo Ivy Capital Management bought a new position in shares of CNX Resources in the third quarter worth about $26,000. BluePath Capital Management LLC acquired a new stake in CNX Resources during the third quarter valued at approximately $32,000. Castleview Partners LLC acquired a new stake in CNX Resources during the third quarter valued at approximately $41,000. KBC Group NV acquired a new stake in CNX Resources during the fourth quarter valued at approximately $44,000. Finally, Adirondack Trust Co. acquired a new stake in CNX Resources during the third quarter valued at approximately $54,000. 95.16% of the stock is currently owned by institutional investors.
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.
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Source: defenseworld.net
