CNX Resources (NYSE:CNX) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of CNX Resources (NYSE:CNX) from a hold rating to a sell rating in a report published on Saturday.

A number of other equities analysts have also recently commented on CNX. Truist Financial increased their target price on CNX Resources from $30.00 to $31.00 and gave the company a buy rating in a report on Monday, July 22nd. Stephens reissued an equal weight rating and set a $27.00 target price on shares of CNX Resources in a report on Monday, July 15th. Piper Sandler increased their target price on CNX Resources from $18.00 to $22.00 and gave the company a neutral rating in a report on Friday, April 19th. Mizuho upped their price target on CNX Resources from $25.00 to $29.00 and gave the company a neutral rating in a research report on Monday, May 13th. Finally, Scotiabank upped their price target on CNX Resources from $20.00 to $25.00 and gave the company a sector underperform rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CNX Resources currently has an average rating of Hold and a consensus price target of $25.57.

CNX Resources Price Performance

NYSE CNX traded down $1.34 during trading hours on Friday, reaching $24.89. The company’s stock had a trading volume of 4,244,051 shares, compared to its average volume of 3,237,197. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 4.51 and a beta of 1.37. CNX Resources has a 1-year low of $19.07 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The company’s 50-day moving average is $25.27 and its two-hundred day moving average is $23.30.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating 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 business had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts predict that CNX Resources will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 666 shares during the period. Hexagon Capital Partners LLC grew its position in CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares during the period. First Eagle Investment Management LLC acquired a new position in CNX Resources during the fourth quarter worth $55,000. Natixis acquired a new position in CNX Resources during the first quarter worth $79,000. Finally, Innealta Capital LLC acquired a new position in CNX Resources during the second quarter worth $131,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

About CNX Resources

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.