CNX Resources (NYSE:CNX) Given New $24.00 Price Target at Piper Sandler

CNX Resources (NYSE:CNX) had its target price reduced by Piper Sandler from $26.00 to $24.00 in a research report released on Thursday,Benzinga reports. They currently have an underweight rating on the oil and gas producer’s stock.

CNX has been the topic of several other research reports. Scotiabank reiterated a “sector perform” rating and issued a $35.00 target price (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Cowen reiterated a “hold” rating on shares of CNX Resources in a research note on Friday, April 25th. TD Cowen raised CNX Resources to a “hold” rating in a research report on Monday, July 7th. Barclays started coverage on CNX Resources in a research report on Monday, July 7th. They set an “equal weight” rating and a $33.00 target price on the stock. Finally, Mizuho upped their target price on CNX Resources from $35.00 to $36.00 and gave the company an “underperform” rating in a research report on Tuesday, May 13th. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.77.

CNX Resources Price Performance

Shares of CNX stock opened at $28.71 on Thursday. The stock’s 50-day moving average is $32.06 and its 200 day moving average is $30.99. CNX Resources has a 1-year low of $25.88 and a 1-year high of $41.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The company has a market cap of $4.06 billion, a P/E ratio of 48.65, a PEG ratio of 0.25 and a beta of 0.64.

Institutional Investors Weigh In On CNX Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its position in CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 526 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of CNX Resources in the second quarter worth about $32,000. Elevation Point Wealth Partners LLC acquired a new position in shares of CNX Resources in the second quarter worth about $46,000. EverSource Wealth Advisors LLC raised its position in shares of CNX Resources by 393.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after acquiring an additional 1,535 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of CNX Resources in the first quarter worth about $61,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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.