CNX Resources (NYSE:CNX) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded CNX Resources from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a report on Wednesday, September 19th. Raymond James downgraded CNX Resources from a “market perform” rating to an “underperform” rating in a report on Monday, August 6th. They noted that the move was a valuation call. Finally, Goldman Sachs Group downgraded CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a report on Tuesday, September 11th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $21.00.

Shares of NYSE CNX opened at $13.92 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.65 and a debt-to-equity ratio of 0.47. CNX Resources has a fifty-two week low of $11.69 and a fifty-two week high of $18.37. The company has a market capitalization of $3.10 billion, a PE ratio of -87.00 and a beta of 1.04.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, August 2nd. The oil and gas producer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.21. CNX Resources had a return on equity of 2.37% and a net margin of 40.07%. The firm had revenue of $402.12 million for the quarter, compared to the consensus estimate of $381.22 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. equities research analysts anticipate that CNX Resources will post 0.78 earnings per share for the current year.

In other news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction on Thursday, August 16th. The shares were bought at an average cost of $14.90 per share, for a total transaction of $149,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. purchased a new position in CNX Resources during the 1st quarter worth $118,000. Point72 Asia Hong Kong Ltd purchased a new position in CNX Resources during the 1st quarter worth $123,000. Gargoyle Investment Advisor L.L.C. purchased a new position in CNX Resources during the 1st quarter worth $170,000. Sciencast Management LP purchased a new position in CNX Resources during the 1st quarter worth $174,000. Finally, Commonwealth Equity Services LLC increased its holdings in CNX Resources by 61.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 16,253 shares of the oil and gas producer’s stock worth $250,000 after purchasing an additional 6,205 shares during the period. Institutional investors own 95.60% of the company’s stock.

CNX Resources Company Profile

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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Analyst Recommendations for CNX Resources (NYSE:CNX)

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