CNX Resources Corporation. (NYSE:CNX) Given Consensus Recommendation of “Reduce” by Analysts

CNX Resources Corporation. (NYSE:CNX) has received an average rating of “Reduce” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $35.4444.

A number of research analysts recently issued reports on the company. Morgan Stanley restated an “underweight” rating on shares of CNX Resources in a research note on Friday, March 27th. Zacks Research cut CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Barclays decreased their price objective on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, May 26th. Mizuho reduced their price target on CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Finally, Weiss Ratings cut CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th.

CNX Resources Trading Up 1.1%

NYSE:CNX opened at $33.67 on Thursday. The stock’s 50 day moving average price is $37.47 and its 200 day moving average price is $38.20. The company has a market capitalization of $4.76 billion, a PE ratio of 4.68 and a beta of 0.58. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47. CNX Resources has a 52-week low of $27.72 and a 52-week high of $43.62.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total transaction of $933,897.12. Following the completion of the transaction, the director owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This trade represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William N. Thorndike, Jr. sold 28,800 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $38.25, for a total value of $1,101,600.00. Following the transaction, the director directly owned 426,585 shares of the company’s stock, valued at $16,316,876.25. The trade was a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.03% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Several institutional investors have recently added to or reduced their stakes in CNX. State of Wyoming acquired a new position in CNX Resources in the second quarter valued at $29,000. Smartleaf Asset Management LLC increased its stake in 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 during the last quarter. Caitlin John LLC acquired a new position in CNX Resources in the third quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new position in CNX Resources in the fourth quarter valued at $34,000. Finally, Kestra Advisory Services LLC acquired a new position in CNX Resources in the fourth quarter valued at $50,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Company Profile

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.