Brokerages Set CNX Resources Corporation. (NYSE:CNX) PT at $31.85

CNX Resources Corporation. (NYSE:CNX) has earned a consensus rating of “Reduce” from the sixteen analysts that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $31.85.

A number of analysts have weighed in on the stock. TD Cowen raised shares of CNX Resources to a “hold” rating in a report on Monday, July 7th. Mizuho raised their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a report on Tuesday, May 13th. Cowen reaffirmed a “hold” rating on shares of CNX Resources in a report on Friday, April 25th. Piper Sandler lifted their target price on shares of CNX Resources from $21.00 to $25.00 and gave the company an “underweight” rating in a report on Tuesday, May 13th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $31.00 target price on shares of CNX Resources in a report on Tuesday, April 15th.

Insider Transactions at CNX Resources

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $31.20 per share, with a total value of $312,000.00. Following the purchase, the director owned 245,433 shares of the company’s stock, valued at $7,657,509.60. This represents a 4.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. lifted its holdings in shares of CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in CNX Resources during the 4th quarter worth $39,000. VSM Wealth Advisory LLC purchased a new stake in CNX Resources during the 4th quarter worth $55,000. Harbor Capital Advisors Inc. purchased a new stake in CNX Resources during the 1st quarter worth $61,000. Finally, Sound Income Strategies LLC purchased a new stake in CNX Resources during the 1st quarter worth $63,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Up 0.3%

CNX stock opened at $33.92 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63. CNX Resources has a twelve month low of $23.85 and a twelve month high of $41.93. The company’s 50 day moving average is $32.62 and its two-hundred day moving average is $31.12. The stock has a market cap of $4.91 billion, a P/E ratio of -16.47, a PEG ratio of 0.33 and a beta of 0.66.

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.