CNX Resources (CNX) – Research Analysts’ Recent Ratings Changes

by · The Markets Daily

Several brokerages have updated their recommendations and price targets on shares of CNX Resources (NYSE: CNX) in the last few weeks:

  • 10/14/2024 – CNX Resources had its price target raised by analysts at Mizuho from $32.00 to $33.00. They now have a “neutral” rating on the stock.
  • 10/14/2024 – CNX Resources was downgraded by analysts at Capital One Financial Co. from an “overweight” rating to an “equal weight” rating. They now have a $25.00 price target on the stock.
  • 10/4/2024 – CNX Resources had its price target raised by analysts at BMO Capital Markets from $26.00 to $29.00. They now have a “market perform” rating on the stock.
  • 10/1/2024 – CNX Resources was upgraded by analysts at Tudor Pickering to a “strong sell” rating.
  • 10/1/2024 – CNX Resources was downgraded by analysts at Tudor, Pickering, Holt & Co. from a “hold” rating to a “sell” rating.
  • 9/30/2024 – CNX Resources had its price target raised by analysts at Truist Financial Co. from $31.00 to $38.00. They now have a “buy” rating on the stock.
  • 9/16/2024 – CNX Resources had its price target raised by analysts at Mizuho from $30.00 to $32.00. They now have a “neutral” rating on the stock.
  • 9/12/2024 – CNX Resources had its price target raised by analysts at JPMorgan Chase & Co. from $26.00 to $27.00. They now have a “neutral” rating on the stock.
  • 8/20/2024 – CNX Resources had its price target raised by analysts at Scotiabank from $25.00 to $27.00. They now have a “sector underperform” rating on the stock.

CNX Resources Stock Performance

Shares of CNX Resources stock opened at $35.04 on Tuesday. The business has a 50-day simple moving average of $29.14 and a 200 day simple moving average of $26.26. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 6.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. CNX Resources Co. has a one year low of $19.07 and a one year high of $36.96.

CNX Resources (NYSE:CNX – Get Free Report) last issued its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The company had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, research analysts anticipate that CNX Resources Co. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Pullen Investment Management LLC boosted its holdings in CNX Resources by 2.3% during the 2nd quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after acquiring an additional 623 shares during the last quarter. GAMMA Investing LLC boosted its holdings in CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the last quarter. CWM LLC grew its position in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in CNX Resources by 3.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after buying an additional 941 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its position in shares of CNX Resources by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after buying an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.

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