CNX Resources (NYSE:CNX) Price Target Raised to $35.00

CNX Resources (NYSE:CNX) had its target price lifted by Mizuho from $34.00 to $35.00 in a report issued on Monday morning,Benzinga reports. They currently have an underperform rating on the oil and gas producer’s stock.

CNX has been the subject of several other reports. Piper Sandler cut their target price on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, March 13th. Roth Capital set a $30.00 price objective on shares of CNX Resources in a report on Thursday, January 23rd. Morgan Stanley set a $33.00 target price on shares of CNX Resources and gave the stock an “underweight” rating in a research note on Wednesday, March 26th. Finally, TD Cowen initiated coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target on the stock. Nine analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $30.92.

CNX Resources Price Performance

NYSE:CNX opened at $29.35 on Monday. CNX Resources has a 52-week low of $22.82 and a 52-week high of $41.93. The company has a market cap of $4.32 billion, a P/E ratio of -43.16, a P/E/G ratio of 0.42 and a beta of 1.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The stock’s 50-day simple moving average is $30.13 and its 200 day simple moving average is $33.29.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, sell-side analysts forecast that CNX Resources will post 2.18 EPS for the current fiscal year.

Hedge Funds Weigh In On CNX Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. increased its position in shares of CNX Resources by 7.2% in the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock worth $9,771,000 after purchasing an additional 17,951 shares during the period. World Investment Advisors LLC acquired a new position in shares of CNX Resources in the 3rd quarter valued at approximately $534,000. Convergence Investment Partners LLC acquired a new position in shares of CNX Resources in the 4th quarter valued at approximately $1,556,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of CNX Resources by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock worth $73,357,000 after acquiring an additional 139,647 shares during the period. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of CNX Resources during the 4th quarter worth approximately $1,047,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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.