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

CNX Resources Co. (NYSE:CNX) has earned a consensus recommendation of “Strong Sell” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $29.75.

CNX has been the subject of several recent research reports. Piper Sandler boosted their price target on CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Morgan Stanley began coverage on shares of CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. Mizuho lowered their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Tudor Pickering raised CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Finally, Bank of America began coverage on CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target for the company.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of CNX Resources by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after purchasing an additional 202,890 shares during the period. World Investment Advisors LLC bought a new position in CNX Resources during the third quarter worth $534,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CNX Resources by 311.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after buying an additional 466,694 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of CNX Resources by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock worth $428,000 after acquiring an additional 442 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in CNX Resources by 829.9% during the third quarter. SG Americas Securities LLC now owns 42,982 shares of the oil and gas producer’s stock worth $1,400,000 after purchasing an additional 38,360 shares during the period. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Up 0.3 %

CNX opened at $28.60 on Monday. The stock has a fifty day moving average of $35.59 and a 200-day moving average of $32.09. The company has a market capitalization of $4.27 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.47 and a beta of 1.42. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The firm had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, equities analysts expect that CNX Resources will post 1.59 EPS for the current year.

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.