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

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

CNX has been the subject of several other research reports. Truist Financial lifted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Morgan Stanley began coverage on CNX Resources in a research note on Friday. They issued an “underweight” rating and a $29.00 price objective for the company. JPMorgan Chase & Co. lowered CNX Resources from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $30.00.

CNX Resources Trading Up 0.3 %

Shares of CNX Resources stock traded up $0.09 during trading hours on Tuesday, hitting $30.20. The company’s stock had a trading volume of 822,685 shares, compared to its average volume of 5,491,302. The firm has a fifty day moving average of $37.06 and a 200-day moving average of $31.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 1.85 and a beta of 1.42. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93.

CNX Resources (NYSE:CNX) last posted its 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. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. Research analysts forecast that CNX Resources will post 1.54 EPS for the current year.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC grew its holdings in shares of CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC increased its position in shares of CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter valued at about $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter valued at about $205,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.