CNX Resources (NYSE:CNX) Stock Rating Lowered by Truist Financial

Truist Financial cut shares of CNX Resources (NYSE:CNX) from a buy rating to a hold rating in a report published on Monday morning, Marketbeat.com reports. Truist Financial currently has $34.00 price target on the oil and gas producer’s stock, down from their prior price target of $38.00.

A number of other research analysts have also commented on the company. Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $22.00 to $20.00 in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Stephens raised their price target on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price objective on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Finally, Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a report on Monday, October 14th. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.00.

CNX Resources Stock Performance

NYSE:CNX opened at $35.10 on Monday. CNX Resources has a twelve month low of $19.07 and a twelve month high of $37.57. The company has a 50-day moving average of $31.38 and a 200-day moving average of $27.20. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 6.36 and a beta of 1.38. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the previous year, the company posted $0.35 EPS. Analysts forecast that CNX Resources will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at CNX Resources

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares in the last quarter. Blue Trust Inc. increased its position in shares of CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares during the period. Hexagon Capital Partners LLC grew its position in shares of CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 1,136 shares in the last quarter. CWM LLC increased its position in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the last quarter. Finally, Natixis bought a new stake in shares of CNX Resources during the 1st quarter worth $79,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

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.