CNX Resources (NYSE:CNX) Upgraded at Truist Financial

Truist Financial upgraded shares of CNX Resources (NYSE:CNX) from a sell rating to a hold rating in a report released on Wednesday, Marketbeat Ratings reports. Truist Financial currently has $35.00 price target on the oil and gas producer’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Mizuho dropped their price target on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Weiss Ratings cut shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Zacks Research lowered shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley cut their target price on shares of CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Monday, June 29th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $35.44.

CNX Resources Stock Down 0.6%

CNX Resources stock opened at $33.27 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46. The stock has a market capitalization of $4.71 billion, a PE ratio of 4.62 and a beta of 0.59. The business has a 50 day simple moving average of $33.92 and a 200-day simple moving average of $37.07. CNX Resources has a 12 month low of $27.72 and a 12 month high of $43.62.

Insider Activity at CNX Resources

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the sale, the director directly owned 426,585 shares in the company, valued at $16,316,876.25. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.03% of the stock is owned by company insiders.

Institutional Trading of CNX Resources

Several large investors have recently bought and sold shares of CNX. State of Wyoming purchased a new position in CNX Resources in the 2nd quarter worth approximately $29,000. Smartleaf Asset Management LLC grew its position in shares of CNX Resources by 56.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 293 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of CNX Resources in the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new stake in shares of CNX Resources in the fourth quarter valued at approximately $50,000. Finally, Highlander Partners L.P. acquired a new stake in shares of CNX Resources in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About CNX Resources

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.