CNX Resources (NYSE:CNX) Hits New 12-Month High at $24.36

Shares of CNX Resources Co. (NYSE:CNX) hit a new 52-week high during trading on Tuesday . The company traded as high as $24.36 and last traded at $24.28, with a volume of 93721 shares traded. The stock had previously closed at $24.12.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CNX shares. Roth Mkm lifted their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Truist Financial boosted their price target on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler boosted their price target on shares of CNX Resources from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target on the stock in a research note on Friday, January 5th. Finally, Mizuho boosted their price target on shares of CNX Resources from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.50.

CNX Resources Stock Up 0.3 %

The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 2.71 and a beta of 1.33. The business’s fifty day moving average is $21.60 and its two-hundred day moving average is $21.26.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. The firm had revenue of $999.50 million during the quarter, compared to analysts’ expectations of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business’s quarterly revenue was down 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 earnings per share. Equities analysts forecast that CNX Resources Co. will post 1.38 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the transaction, the executive vice president now owns 67,982 shares in the company, valued at approximately $1,416,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Southeastern Asset Management Inc. TN raised its position in shares of CNX Resources by 19.9% during the 1st quarter. Southeastern Asset Management Inc. TN now owns 13,758,674 shares of the oil and gas producer’s stock worth $220,414,000 after acquiring an additional 2,279,108 shares in the last quarter. State Street Corp increased its stake in CNX Resources by 15.6% in the first quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock valued at $270,061,000 after purchasing an additional 1,760,214 shares during the last quarter. Vanguard Group Inc. raised its holdings in CNX Resources by 10.5% during the third quarter. Vanguard Group Inc. now owns 18,448,774 shares of the oil and gas producer’s stock worth $286,510,000 after purchasing an additional 1,758,826 shares in the last quarter. Renaissance Technologies LLC raised its holdings in CNX Resources by 2,477.3% during the first quarter. Renaissance Technologies LLC now owns 1,513,616 shares of the oil and gas producer’s stock worth $31,362,000 after purchasing an additional 1,454,887 shares in the last quarter. Finally, LSV Asset Management raised its holdings in CNX Resources by 223.4% during the fourth quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock worth $29,787,000 after purchasing an additional 1,028,805 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

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.