CNX Resources Corp (NYSE:CNX) was down 5.6% during trading on Friday . The company traded as low as $10.25 and last traded at $10.32. Approximately 2,281,355 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 3,446,713 shares. The stock had previously closed at $10.93.
Several research analysts recently issued reports on the stock. MKM Partners assumed coverage on shares of CNX Resources in a report on Wednesday, December 5th. They set a “buy” rating and a $19.00 price target for the company. Zacks Investment Research raised shares of CNX Resources from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a report on Wednesday, January 2nd. ValuEngine raised shares of CNX Resources from a “strong sell” rating to a “sell” rating in a report on Monday, January 7th. Tudor Pickering cut shares of CNX Resources from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Finally, Susquehanna Bancshares set a $11.00 price target on shares of CNX Resources and gave the stock a “hold” rating in a report on Saturday, February 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.00.
The firm has a market capitalization of $2.17 billion, a PE ratio of 6.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.96.
CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 31st. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.39. The firm had revenue of $435.46 million during the quarter, compared to analysts’ expectations of $436.26 million. CNX Resources had a net margin of 46.03% and a return on equity of 5.91%. During the same period in the prior year, the company posted ($0.23) earnings per share. As a group, analysts anticipate that CNX Resources Corp will post 0.61 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its position in CNX Resources by 74.1% during the third quarter. Wells Fargo & Company MN now owns 155,513 shares of the oil and gas producer’s stock worth $2,225,000 after buying an additional 66,210 shares during the period. WINTON GROUP Ltd acquired a new position in CNX Resources during the third quarter worth about $162,000. Janney Montgomery Scott LLC grew its position in CNX Resources by 81.9% during the third quarter. Janney Montgomery Scott LLC now owns 94,420 shares of the oil and gas producer’s stock worth $1,351,000 after buying an additional 42,506 shares during the period. JPMorgan Chase & Co. grew its position in CNX Resources by 117.3% during the third quarter. JPMorgan Chase & Co. now owns 2,371,423 shares of the oil and gas producer’s stock worth $33,935,000 after buying an additional 1,280,314 shares during the period. Finally, Prudential Financial Inc. grew its position in CNX Resources by 19.4% during the third quarter. Prudential Financial Inc. now owns 2,193,423 shares of the oil and gas producer’s stock worth $31,389,000 after buying an additional 356,452 shares during the period. 99.18% of the stock is owned by hedge funds and other institutional investors.
About CNX Resources (NYSE:CNX)
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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