CNX Resources (CNX) Trading Up 1.8%

Shares of CNX Resources Corp (NYSE:CNX) were up 1.8% during trading on Thursday . The stock traded as high as $14.66 and last traded at $14.82. Approximately 2,506,748 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 3,787,681 shares. The stock had previously closed at $14.56.

Several analysts have commented on CNX shares. B. Riley started coverage on CNX Resources in a report on Tuesday, November 21st. They issued a “buy” rating and a $32.00 price target for the company. Zacks Investment Research upgraded CNX Resources from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Scotiabank set a $21.00 price target on CNX Resources and gave the company a “hold” rating in a report on Monday, November 13th. Robert W. Baird lifted their price target on CNX Resources from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, Barclays set a $16.00 price target on CNX Resources and gave the company a “hold” rating in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. CNX Resources has a consensus rating of “Hold” and a consensus price target of $23.00.

The stock has a market cap of $2,984.94, a price-to-earnings ratio of 8.93 and a beta of 1.49. The company has a current ratio of 1.93, a quick ratio of 1.91 and a debt-to-equity ratio of 0.57.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $333.30 million for the quarter, compared to analyst estimates of $331.76 million. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.33) EPS. sell-side analysts anticipate that CNX Resources Corp will post 0.3 earnings per share for the current year.

CNX Resources declared that its board has authorized a stock repurchase plan on Tuesday, October 31st that permits the company to repurchase $369.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of CNX Resources by 11.6% in the 3rd quarter. Pacer Advisors Inc. now owns 36,532 shares of the oil and gas producer’s stock valued at $619,000 after purchasing an additional 3,800 shares in the last quarter. ING Groep NV lifted its stake in shares of CNX Resources by 17.7% in the 3rd quarter. ING Groep NV now owns 25,357 shares of the oil and gas producer’s stock valued at $430,000 after purchasing an additional 3,808 shares in the last quarter. Advantus Capital Management Inc lifted its stake in shares of CNX Resources by 17.1% in the 3rd quarter. Advantus Capital Management Inc now owns 26,177 shares of the oil and gas producer’s stock valued at $443,000 after purchasing an additional 3,815 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in CNX Resources by 16.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,203 shares of the oil and gas producer’s stock worth $512,000 after acquiring an additional 4,351 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in CNX Resources by 39.1% during the 4th quarter. Jane Street Group LLC now owns 16,923 shares of the oil and gas producer’s stock worth $248,000 after acquiring an additional 4,753 shares in the last quarter. 96.83% of the stock is currently owned by institutional investors and hedge funds.

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About CNX Resources

CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.

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