CNX Resources Corporation. (CNX) – What Are Researchers Thinking About This Stock?

CNX Resources Corporation. (NYSE:CNX) has been given a consensus rating of “Reduce” by the twelve brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $34.88.

CNX has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on CNX Resources from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Thursday, October 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of CNX Resources in a report on Monday, October 26th. Benchmark reissued a “hold” rating on shares of CNX Resources in a report on Thursday, October 29th. Scotiabank assumed coverage on CNX Resources in a research note on Wednesday, October 14th. They issued a “sector perform” rating and a $34.00 price objective on the stock. Finally, Truist Financial boosted their target price on CNX Resources from $34.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, October 29th.

CNX Resources Trading Down 1.6%

Shares of NYSE:CNX opened at $35.37 on Friday. The stock has a market capitalization of $5.05 billion, a PE ratio of 5.99 and a beta of 0.61. CNX Resources has a 1 year low of $30.77 and a 1 year high of $43.62. The firm has a fifty day moving average price of $35.06 and a 200 day moving average price of $36.40. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors have recently modified their holdings of CNX. Allworth Financial LP grew its holdings in shares of CNX Resources by 5.5% during the 2nd quarter. Allworth Financial LP now owns 6,144 shares of the oil and gas producer’s stock worth $208,000 after purchasing an additional 323 shares in the last quarter. Signaturefd LLC increased its position in shares of CNX Resources by 6.5% during the third quarter. Signaturefd LLC now owns 6,426 shares of the oil and gas producer’s stock valued at $200,000 after purchasing an additional 390 shares during the period. Choreo LLC increased its position in shares of CNX Resources by 2.9% during the third quarter. Choreo LLC now owns 15,253 shares of the oil and gas producer’s stock valued at $475,000 after purchasing an additional 424 shares during the period. Pullen Investment Management LLC raised its stake in shares of CNX Resources by 0.6% in the third quarter. Pullen Investment Management LLC now owns 69,350 shares of the oil and gas producer’s stock valued at $2,162,000 after purchasing an additional 428 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of CNX Resources by 2.3% in the second quarter. QRG Capital Management Inc. now owns 19,987 shares of the oil and gas producer’s stock valued at $678,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

CNX Resources Corporation (NYSE:CNX) is an independent natural gas exploration and production company focused on the Appalachian Basin. The company develops and produces natural gas from unconventional shale formations, with its operations concentrated in the Marcellus and Utica shale areas.

CNX’s activities include leasing, drilling, completing and operating natural gas wells, as well as managing related gathering and infrastructure arrangements used to transport production to market.