CNX Resources Co. (NYSE:CNX) Receives Consensus Recommendation of “Strong Sell” from Analysts

CNX Resources Co. (NYSE:CNX) has been given an average rating of “Strong Sell” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $30.50.

CNX has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Mizuho downgraded shares of CNX Resources from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $33.00 to $38.00 in a research note on Monday, December 16th. Bank of America began coverage on CNX Resources in a research report on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price on the stock. Tudor Pickering raised CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Finally, Stephens increased their price objective on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th.

CNX Resources Trading Down 1.0 %

NYSE:CNX opened at $36.67 on Thursday. The firm has a 50 day moving average of $37.62 and a 200 day moving average of $31.39. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. CNX Resources has a 52 week low of $19.07 and a 52 week high of $41.93. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The firm had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. During the same period in the previous year, the business earned $0.35 EPS. As a group, sell-side analysts anticipate that CNX Resources will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNX Resources

Hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its holdings in CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock worth $428,000 after buying an additional 442 shares in the last quarter. CWM LLC boosted its stake in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after acquiring an additional 941 shares in the last quarter. Blue Trust Inc. grew its position in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of CNX Resources by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 1,177 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

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.