CNX Resources (NYSE:CNX) Downgraded to Underperform Rating by Mizuho

CNX Resources (NYSE:CNX) was downgraded by research analysts at Mizuho from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $38.00 price target on the oil and gas producer’s stock, up from their previous price target of $33.00. Mizuho’s price target would indicate a potential upside of 0.56% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Stephens boosted their target price on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. BMO Capital Markets raised their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Truist Financial upped their price target on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Capital One Financial lowered 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. Eight research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $30.50.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $37.79 on Monday. CNX Resources has a 52 week low of $19.07 and a 52 week high of $41.93. The firm has a market capitalization of $5.64 billion, a P/E ratio of 11.88, a PEG ratio of 1.85 and a beta of 1.43. The firm’s 50 day moving average is $37.27 and its two-hundred day moving average is $30.45. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period last year, the company earned $0.35 earnings per share. Analysts anticipate that CNX Resources will post 1.54 earnings per share for the current year.

Institutional Trading of CNX Resources

A number of institutional investors have recently bought and sold shares of CNX. Tributary Capital Management LLC lifted its stake in CNX Resources by 0.3% in the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after acquiring an additional 2,535 shares during the last quarter. Pullen Investment Management LLC lifted its position in shares of CNX Resources by 2.3% in the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after buying an additional 623 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of CNX Resources in the second quarter worth about $327,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CNX Resources by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,929 shares of the oil and gas producer’s stock worth $946,000 after buying an additional 3,052 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in CNX Resources in the 2nd quarter worth approximately $131,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.