CNX Resources (CNX) Research Coverage Started at MKM Partners

Stock analysts at MKM Partners began coverage on shares of CNX Resources (NYSE:CNX) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating and a $19.00 price target on the oil and gas producer’s stock. MKM Partners’ target price would suggest a potential upside of 39.40% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of CNX Resources from a “d+” rating to a “b” rating in a report on Tuesday, October 30th. Zacks Investment Research upgraded shares of CNX Resources from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, October 10th. ValuEngine upgraded shares of CNX Resources from a “strong sell” rating to a “sell” rating in a report on Friday, October 12th. Goldman Sachs Group lowered shares of CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 price objective on the stock. in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, Raymond James reiterated a “sell” rating on shares of CNX Resources in a report on Thursday, August 30th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.67.

CNX stock traded down $0.51 during trading on Wednesday, reaching $13.63. The stock had a trading volume of 1,670,373 shares, compared to its average volume of 2,436,479. CNX Resources has a 1-year low of $11.69 and a 1-year high of $18.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.57. The firm has a market capitalization of $2.82 billion, a P/E ratio of -85.19 and a beta of 0.70.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas producer reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). CNX Resources had a return on equity of 3.73% and a net margin of 54.81%. The firm had revenue of $397.10 million during the quarter, compared to analyst estimates of $376.23 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CNX Resources will post 0.97 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of CNX Resources by 1.0% in the 3rd quarter. Rhumbline Advisers now owns 362,571 shares of the oil and gas producer’s stock valued at $5,188,000 after purchasing an additional 3,508 shares in the last quarter. Strs Ohio raised its stake in shares of CNX Resources by 22.7% in the 3rd quarter. Strs Ohio now owns 20,682 shares of the oil and gas producer’s stock valued at $295,000 after purchasing an additional 3,828 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of CNX Resources by 18.1% during the 3rd quarter. Hsbc Holdings PLC now owns 28,455 shares of the oil and gas producer’s stock valued at $407,000 after buying an additional 4,356 shares during the last quarter. Federated Investors Inc. PA grew its position in shares of CNX Resources by 6.0% during the 2nd quarter. Federated Investors Inc. PA now owns 81,825 shares of the oil and gas producer’s stock valued at $1,455,000 after buying an additional 4,652 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of CNX Resources by 10.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 58,400 shares of the oil and gas producer’s stock valued at $836,000 after buying an additional 5,400 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

About CNX Resources

CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.

Featured Story: Coverage Ratio

The Fly

Analyst Recommendations for CNX Resources (NYSE:CNX)

Receive News & Ratings for CNX Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNX Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply