CNX Resources (CNX) Now Covered by MKM Partners
MKM Partners initiated coverage on shares of CNX Resources (NYSE:CNX) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $19.00 price target on the oil and gas producer’s stock.
Other research analysts have also issued reports about the stock. TheStreet raised shares of CNX Resources from a d+ rating to a b rating in a research note on Tuesday, October 30th. Zacks Investment Research raised shares of CNX Resources from a hold rating to a buy rating and set a $16.00 target price on the stock in a research note on Wednesday, October 10th. ValuEngine raised shares of CNX Resources from a strong sell rating to a sell rating in a research note on Friday, October 12th. Goldman Sachs Group lowered shares of CNX Resources from a neutral rating to a sell rating and set a $14.00 target price on the stock. in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Finally, Raymond James reissued a sell rating on shares of CNX Resources in a research note on Thursday, August 30th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. CNX Resources has a consensus rating of Hold and an average price target of $17.67.
Shares of NYSE CNX opened at $13.37 on Wednesday. The firm has a market cap of $2.75 billion, a P/E ratio of 16.30 and a beta of 0.70. CNX Resources has a 12-month low of $11.69 and a 12-month high of $18.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.59.
A number of hedge funds and other institutional investors have recently modified their holdings of CNX. WINTON GROUP Ltd acquired a new position in CNX Resources during the third quarter worth $162,000. Tower Research Capital LLC TRC raised its holdings in CNX Resources by 114.1% during the third quarter. Tower Research Capital LLC TRC now owns 14,008 shares of the oil and gas producer’s stock worth $201,000 after buying an additional 7,465 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in CNX Resources during the third quarter worth $237,000. Marshall Wace North America L.P. acquired a new position in CNX Resources during the third quarter worth $281,000. Finally, Allianz Asset Management GmbH acquired a new position in CNX Resources during the third quarter worth $291,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.
About CNX Resources
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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