CNX Resources (NYSE:CNX) Price Target Raised to $43.00

CNX Resources (NYSE:CNX) had its price target boosted by Mizuho from $35.00 to $43.00 in a report released on Friday, Marketbeat reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

CNX has been the subject of several other reports. Scotiabank lifted their target price on CNX Resources from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 21st. Morgan Stanley reduced their price target on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of CNX Resources in a research report on Monday, December 8th. Barclays raised their target price on shares of CNX Resources from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Finally, Zacks Research raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CNX Resources presently has an average rating of “Reduce” and an average target price of $34.00.

CNX Resources Stock Down 4.3%

Shares of NYSE:CNX opened at $38.46 on Friday. The firm has a market capitalization of $5.19 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 0.36 and a beta of 0.64. The business has a 50 day simple moving average of $35.63 and a two-hundred day simple moving average of $32.81. CNX Resources has a 1 year low of $27.00 and a 1 year high of $42.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.The firm had revenue of $423.00 million during the quarter, compared to analyst estimates of $408.80 million. CNX Resources’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities analysts predict that CNX Resources will post 2.18 EPS for the current year.

Institutional Trading of CNX Resources

A number of hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of CNX Resources in the 1st quarter valued at $35,567,000. Capital Research Global Investors boosted its position in CNX Resources by 38.6% during the third quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer’s stock valued at $126,874,000 after purchasing an additional 1,100,000 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in CNX Resources by 514.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the oil and gas producer’s stock valued at $37,776,000 after purchasing an additional 1,004,545 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in CNX Resources by 601.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,105,456 shares of the oil and gas producer’s stock valued at $35,507,000 after purchasing an additional 947,931 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in CNX Resources by 4.4% in the first quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer’s stock worth $502,178,000 after purchasing an additional 665,289 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.