CNX Resources (NYSE:CNX) Downgraded by Tudor, Pickering, Holt & Co.

by · The Cerbat Gem

Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources (NYSE:CNX – Free Report) from a hold rating to a sell rating in a research report released on Tuesday, MarketBeat Ratings reports.

A number of other analysts have also commented on CNX. JPMorgan Chase & Co. boosted their price target on CNX Resources from $26.00 to $27.00 and gave the company a neutral rating in a report on Thursday, September 12th. Mizuho upped their price target on CNX Resources from $30.00 to $32.00 and gave the stock a neutral rating in a research report on Monday, September 16th. Truist Financial lifted their price objective on shares of CNX Resources from $31.00 to $38.00 and gave the company a buy rating in a report on Monday. StockNews.com cut shares of CNX Resources from a hold rating to a sell rating in a report on Saturday, August 3rd. Finally, Piper Sandler cut shares of CNX Resources from a neutral rating to an underweight rating and cut their price target for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, CNX Resources has an average rating of Hold and an average target price of $27.00.

Check Out Our Latest Stock Report on CNX Resources

CNX Resources Trading Up 2.8 %

Shares of NYSE CNX opened at $34.00 on Tuesday. The company’s 50 day simple moving average is $27.69 and its 200 day simple moving average is $25.57. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $34.03. The firm has a market capitalization of $5.21 billion, a P/E ratio of 6.16 and a beta of 1.37. 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 (NYSE:CNX – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the prior year, the business posted $0.29 earnings per share. On average, analysts predict that CNX Resources will post 1.44 EPS for the current year.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

A number of hedge funds have recently modified their holdings of CNX. Parkwood LLC boosted its holdings in shares of CNX Resources by 11.2% during the 4th quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock worth $9,809,000 after buying an additional 49,278 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of CNX Resources by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock worth $4,629,000 after buying an additional 23,069 shares during the period. Duality Advisers LP boosted its holdings in shares of CNX Resources by 61.1% during the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock worth $3,112,000 after buying an additional 49,741 shares during the period. Boston Partners bought a new stake in shares of CNX Resources during the 1st quarter worth about $951,000. Finally, Moloney Securities Asset Management LLC bought a new stake in shares of CNX Resources during the 1st quarter worth about $986,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

About CNX Resources

(Get Free Report)

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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