CNX Resources (NYSE:CNX) Reaches New 12-Month High on Analyst Upgrade

CNX Resources Co. (NYSE:CNXGet Free Report)’s share price hit a new 52-week high on Tuesday after Roth Mkm raised their price target on the stock from $18.00 to $22.00. Roth Mkm currently has a neutral rating on the stock. CNX Resources traded as high as $24.19 and last traded at $24.15, with a volume of 87936 shares trading hands. The stock had previously closed at $23.97.

CNX has been the topic of a number of other research reports. Truist Financial lifted their price target on shares of CNX Resources from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target on the stock in a report on Friday, January 5th. Piper Sandler lifted their price target on shares of CNX Resources from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Finally, Mizuho lifted their price target on shares of CNX Resources from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, CNX Resources currently has an average rating of “Hold” and a consensus price target of $23.17.

View Our Latest Research Report on CNX Resources

Insider Buying and Selling at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.83, for a total value of $25,537.58. Following the completion of the sale, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at $1,416,065.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.65% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

Several hedge funds and other institutional investors have recently made changes to their positions in CNX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of CNX Resources by 6.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,211 shares of the oil and gas producer’s stock worth $1,538,000 after acquiring an additional 4,188 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of CNX Resources by 7.2% during the first quarter. Great West Life Assurance Co. Can now owns 117,180 shares of the oil and gas producer’s stock worth $2,502,000 after acquiring an additional 7,871 shares in the last quarter. Sei Investments Co. increased its position in shares of CNX Resources by 7.8% during the first quarter. Sei Investments Co. now owns 249,181 shares of the oil and gas producer’s stock worth $5,208,000 after acquiring an additional 17,930 shares in the last quarter. Canada Pension Plan Investment Board grew its position in CNX Resources by 39.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 104,255 shares of the oil and gas producer’s stock worth $2,160,000 after purchasing an additional 29,348 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in CNX Resources by 26.2% in the 1st quarter. Allianz Asset Management GmbH now owns 53,619 shares of the oil and gas producer’s stock worth $1,111,000 after purchasing an additional 11,142 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Stock Up 1.1 %

The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $21.22 and its 200-day simple moving average is $21.17. The firm has a market capitalization of $3.70 billion, a P/E ratio of 2.66, a P/E/G ratio of 1.59 and a beta of 1.33.

CNX Resources (NYSE:CNXGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business had revenue of $999.50 million during the quarter, compared to the consensus estimate of $401.62 million. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s quarterly revenue was down 38.9% compared to the same quarter last year. As a group, research analysts predict that CNX Resources Co. will post 1.48 earnings per share for the current fiscal year.

CNX Resources Company Profile

(Get Free Report)

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.

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