Truist Financial Raises CNX Resources (NYSE:CNX) Price Target to $38.00

CNX Resources (NYSE:CNX) had its price objective hoisted by Truist Financial from $31.00 to $38.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued research reports about the stock. Mizuho raised their target price on CNX Resources from $30.00 to $32.00 and gave the company a neutral rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on CNX Resources from $26.00 to $27.00 and gave the stock a neutral rating in a research report on Thursday, September 12th. Scotiabank boosted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a sector underperform rating in a research note on Tuesday, August 20th. StockNews.com lowered shares of CNX Resources from a hold rating to a sell rating in a research note on Saturday, August 3rd. Finally, Stephens reaffirmed an equal weight rating and issued a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $27.00.

CNX Resources Stock Up 1.2 %

Shares of NYSE:CNX opened at $33.06 on Monday. CNX Resources has a 1 year low of $19.07 and a 1 year high of $33.31. 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 business’s 50-day moving average is $27.69 and its 200-day moving average is $25.57. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 5.99 and a beta of 1.37.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, topping the consensus estimate of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The company had revenue of $321.44 million during the quarter, compared to the consensus estimate of $387.46 million. During the same quarter last year, the firm posted $0.29 EPS. Equities research analysts predict that CNX Resources will post 1.44 earnings per share for the current year.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its holdings in shares of CNX Resources by 12.4% in the 4th quarter. Advisory Services Network LLC now owns 13,780 shares of the oil and gas producer’s stock worth $276,000 after purchasing an additional 1,518 shares during the period. Allianz Asset Management GmbH lifted its holdings in CNX Resources by 10.9% during the fourth quarter. Allianz Asset Management GmbH now owns 593,632 shares of the oil and gas producer’s stock valued at $11,873,000 after purchasing an additional 58,328 shares during the last quarter. TFO Wealth Partners LLC boosted its position in CNX Resources by 64,084.6% during the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 8,331 shares during the period. Campbell & CO Investment Adviser LLC increased its stake in shares of CNX Resources by 116.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 52,834 shares of the oil and gas producer’s stock worth $1,057,000 after purchasing an additional 28,418 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in shares of CNX Resources by 7.1% during the 4th quarter. Rafferty Asset Management LLC now owns 351,934 shares of the oil and gas producer’s stock valued at $7,039,000 after buying an additional 23,195 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

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.