Barclays Lowers CNX Resources (NYSE:CNX) Price Target to $32.00

CNX Resources (NYSE:CNX) had its price objective dropped by Barclays from $33.00 to $32.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Barclays‘s price objective suggests a potential downside of 3.88% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 price target (up from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Mizuho raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $34.00 in a research note on Monday, September 15th. Piper Sandler lowered their price target on shares of CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Thursday, August 14th. TD Cowen raised shares of CNX Resources to a “hold” rating in a research note on Monday, July 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNX Resources in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $31.77.

CNX Resources Stock Performance

Shares of CNX opened at $33.29 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The stock has a market capitalization of $4.71 billion, a P/E ratio of 56.42, a P/E/G ratio of 0.30 and a beta of 0.55. The company’s fifty day moving average is $29.96 and its two-hundred day moving average is $31.13. CNX Resources has a 1 year low of $27.00 and a 1 year high of $41.93.

Institutional Investors Weigh In On CNX Resources

Large investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in CNX Resources in the 2nd quarter valued at about $29,000. Ameritas Advisory Services LLC acquired a new stake in CNX Resources in the 2nd quarter valued at about $32,000. Elevation Point Wealth Partners LLC acquired a new stake in CNX Resources in the 2nd quarter valued at about $46,000. Harbor Capital Advisors Inc. acquired a new stake in shares of CNX Resources during the 1st quarter worth about $61,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of CNX Resources during the 1st quarter worth about $63,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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.