CNX Resources (NYSE:CNX) Trading Down 4.4%


Share on StockTwits

CNX Resources Co. (NYSE:CNX)’s stock price dropped 4.4% during mid-day trading on Thursday . The company traded as low as $14.15 and last traded at $14.15. Approximately 7,849 shares were traded during trading, a decline of 100% from the average daily volume of 3,888,305 shares. The stock had previously closed at $14.80.

CNX has been the topic of a number of research analyst reports. Truist downgraded CNX Resources from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Tuesday, March 30th. MKM Partners reissued a “neutral” rating and issued a $14.00 target price on shares of CNX Resources in a report on Wednesday, March 17th. Bank of America started coverage on CNX Resources in a report on Tuesday, December 15th. They issued a “neutral” rating and a $12.00 target price on the stock. Truist Securities downgraded CNX Resources from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Tuesday, March 30th. Finally, Piper Sandler increased their target price on CNX Resources from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, March 15th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. CNX Resources has a consensus rating of “Buy” and an average price target of $14.50.

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.65 and a quick ratio of 0.63. The business has a 50-day simple moving average of $14.29 and a 200 day simple moving average of $11.78. The firm has a market cap of $3.09 billion, a PE ratio of -2.78 and a beta of 1.68.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, January 28th. The oil and gas producer reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $626.70 million during the quarter, compared to analysts’ expectations of $392.28 million. CNX Resources had a positive return on equity of 1.94% and a negative net margin of 83.40%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.45) earnings per share. On average, equities analysts forecast that CNX Resources Co. will post 0.71 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Inspire Advisors LLC purchased a new stake in shares of CNX Resources during the fourth quarter worth about $25,000. Spirit of America Management Corp NY purchased a new stake in shares of CNX Resources during the fourth quarter worth about $54,000. Clear Street Markets LLC purchased a new stake in shares of CNX Resources during the fourth quarter worth about $108,000. Stelac Advisory Services LLC purchased a new stake in shares of CNX Resources during the fourth quarter worth about $114,000. Finally, CastleArk Alternatives LLC grew its position in shares of CNX Resources by 97.7% during the fourth quarter. CastleArk Alternatives LLC now owns 12,120 shares of the oil and gas producer’s stock worth $131,000 after purchasing an additional 5,990 shares in the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.

About CNX Resources (NYSE:CNX)

CNX Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas properties primarily in the Appalachian Basin. It operates through two segments, Shale and Coalbed Methane. The company produces and sells pipeline quality natural gas primarily to gas wholesalers.

Further Reading: Example of operating income, EBIT and EBITDA

Receive News & Ratings for CNX Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNX Resources and related companies with MarketBeat.com's FREE daily email newsletter.