CNX Resources (NYSE:CNX) has been given a $16.00 price target by investment analysts at Barclays in a research report issued on Tuesday. The firm currently has a “hold” rating on the oil and gas producer’s stock. Barclays’ price objective suggests a potential upside of 9.66% from the stock’s current price.
CNX has been the topic of a number of other reports. SunTrust Banks set a $17.00 price target on shares of CNX Resources and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of CNX Resources from a “sell” rating to a “hold” rating in a report on Friday, October 27th. BidaskClub cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Monday, August 14th. B. Riley started coverage on shares of CNX Resources in a research report on Tuesday, November 21st. They set a “buy” rating and a $32.00 price objective for the company. Finally, Susquehanna Bancshares upped their price objective on shares of CNX Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.18.
CNX Resources (CNX) traded down $0.04 during midday trading on Tuesday, hitting $14.59. The company’s stock had a trading volume of 4,887,900 shares, compared to its average volume of 3,950,577. The company has a market capitalization of $3,282.53, a PE ratio of 77.00 and a beta of 1.53. CNX Resources has a 52 week low of $11.29 and a 52 week high of $16.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.94 and a quick ratio of 0.86.
CNX Resources declared that its Board of Directors has authorized a share repurchase program on Tuesday, September 5th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the company. ICON Advisers acquired a new stake in CNX Resources in the 3rd quarter valued at $4,625,000. Capstone Asset Management Company grew its position in shares of CNX Resources by 795.7% in the 4th quarter. Capstone Asset Management Company now owns 121,115 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 107,593 shares during the period. Candriam Luxembourg S.C.A. bought a new position in shares of CNX Resources in the 4th quarter valued at about $5,312,000. Russell Frank Co grew its position in shares of CNX Resources by 953.7% in the 4th quarter. Russell Frank Co now owns 898,193 shares of the oil and gas producer’s stock valued at $6,988,000 after acquiring an additional 812,953 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of CNX Resources by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 437,507 shares of the oil and gas producer’s stock valued at $3,456,000 after acquiring an additional 6,857 shares during the period. 99.32% of the stock is currently owned by institutional investors.
CNX Resources Company Profile
CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
