CNX Resources Corporation. (NYSE:CNX) Given Consensus Rating of “Reduce” by Analysts

CNX Resources Corporation. (NYSE:CNX) has earned an average recommendation of “Reduce” from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $35.4444.

A number of brokerages have recently issued reports on CNX. Barclays decreased their target price on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, May 26th. Weiss Ratings cut shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Tudor Pickering upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Morgan Stanley dropped their price objective on shares of CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a research report on Monday, June 29th. Finally, Mizuho reduced their target price on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $33.83 on Monday. The firm has a market capitalization of $4.79 billion, a PE ratio of 4.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46. The business has a 50-day moving average of $34.92 and a two-hundred day moving average of $37.38. CNX Resources has a 12 month low of $27.72 and a 12 month high of $43.62.

Insider Buying and Selling

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $38.25, for a total value of $1,101,600.00. Following the transaction, the director directly owned 426,585 shares of the company’s stock, valued at $16,316,876.25. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On CNX Resources

A number of large investors have recently modified their holdings of CNX. Smartleaf Asset Management LLC lifted its position in CNX Resources by 56.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 293 shares in the last quarter. State of Wyoming purchased a new stake in shares of CNX Resources during the second quarter valued at approximately $29,000. Los Angeles Capital Management LLC purchased a new stake in shares of CNX Resources during the fourth quarter valued at approximately $34,000. Caitlin John LLC acquired a new position in shares of CNX Resources during the third quarter worth $31,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of CNX Resources during the fourth quarter worth $50,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.