CNX Resources (NYSE:CNX) Given New $34.00 Price Target at Mizuho

CNX Resources (NYSE:CNX) had its target price dropped by equities research analysts at Mizuho from $38.00 to $34.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the oil and gas producer’s stock. Mizuho’s target price would indicate a potential upside of 12.58% from the stock’s previous close.

CNX has been the subject of several other reports. Capital One Financial downgraded shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research note on Monday, October 14th. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Morgan Stanley initiated coverage on CNX Resources in a report on Friday. They issued an “underweight” rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. downgraded CNX Resources from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, Stephens boosted their target price on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $30.00.

CNX Resources Stock Up 0.3 %

CNX stock traded up $0.09 on Tuesday, hitting $30.20. 822,685 shares of the company’s stock were exchanged, compared to its average volume of 5,491,302. The firm has a 50 day moving average price of $37.06 and a two-hundred day moving average price of $31.87. CNX Resources has a 12-month low of $19.07 and a 12-month high of $41.93. The stock has a market cap of $4.51 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 1.85 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The firm had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter in the prior year, the company posted $0.35 earnings per share. As a group, equities research analysts expect that CNX Resources will post 1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNX Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWA Asset Management Group LLC purchased a new position in CNX Resources during the fourth quarter worth approximately $241,000. World Investment Advisors LLC purchased a new position in shares of CNX Resources during the 3rd quarter worth $534,000. Geode Capital Management LLC boosted its position in shares of CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock valued at $117,366,000 after acquiring an additional 12,333 shares during the last quarter. M&T Bank Corp grew its holdings in shares of CNX Resources by 25.4% in the third quarter. M&T Bank Corp now owns 18,057 shares of the oil and gas producer’s stock valued at $588,000 after purchasing an additional 3,663 shares during the period. Finally, Hodges Capital Management Inc. acquired a new stake in CNX Resources during the third quarter worth about $212,000. 95.16% of the stock is 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.