Analysts Set CNX Resources Co. (NYSE:CNX) Target Price at $29.69

Shares of CNX Resources Co. (NYSE:CNX) have been given a consensus recommendation of “Strong Sell” by the fifteen research firms that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $29.38.

A number of equities analysts have recently issued reports on the company. TD Cowen assumed coverage on CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target on the stock. Roth Capital set a $30.00 price target on CNX Resources in a research note on Thursday, January 23rd. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Mizuho dropped their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th.

CNX Resources Stock Performance

CNX Resources stock opened at $30.51 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $4.54 billion, a P/E ratio of -44.87, a PEG ratio of 0.42 and a beta of 1.26. The stock’s 50 day moving average is $29.61 and its 200 day moving average is $32.95. CNX Resources has a twelve month low of $21.07 and a twelve month high of $41.93.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate 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%. On average, equities research analysts predict that CNX Resources will post 2.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.65% of the stock is owned by corporate insiders.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of CNX. Centaurus Financial Inc. purchased a new position in shares of CNX Resources during the fourth quarter valued at $146,000. Heck Capital Advisors LLC purchased a new position in shares of CNX Resources during the fourth quarter valued at $121,000. Pullen Investment Management LLC increased its stake in shares of CNX Resources by 2.7% during the fourth quarter. Pullen Investment Management LLC now owns 32,151 shares of the oil and gas producer’s stock valued at $1,179,000 after buying an additional 841 shares during the period. Ameriflex Group Inc. purchased a new position in shares of CNX Resources during the fourth quarter valued at $88,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of CNX Resources during the fourth quarter valued at $1,684,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.