CNX Resources (NYSE:CNX) Raised to Overweight at Stephens

Stephens upgraded shares of CNX Resources (NYSE:CNX) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have $48.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $35.00.

Several other brokerages also recently issued reports on CNX. Morgan Stanley started coverage on shares of CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 price target on the stock. JPMorgan Chase & Co. upped their price target on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, March 13th. Mizuho lowered their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Finally, Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Nine analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.38.

CNX Resources Trading Up 3.4 %

Shares of CNX Resources stock opened at $31.79 on Tuesday. The firm has a market capitalization of $4.73 billion, a PE ratio of -46.74, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The company’s fifty day moving average price is $29.64 and its two-hundred day moving average price is $33.04. CNX Resources has a 52-week low of $21.07 and a 52-week 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 negative net margin of 7.14% and a positive return on equity of 6.72%. On average, analysts expect that CNX Resources will post 2.18 EPS for the current year.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on 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 transaction, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. increased its position in shares of CNX Resources by 7.2% in the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock worth $9,771,000 after purchasing an additional 17,951 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after purchasing an additional 202,890 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of CNX Resources during the third quarter valued at about $534,000. Convergence Investment Partners LLC acquired a new position in shares of CNX Resources in the fourth quarter worth approximately $1,556,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 worth $20,087,000 after acquiring an additional 466,694 shares during the period. 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.