CNX Resources (NYSE:CNX) had its target price raised by analysts at Robert W. Baird from $22.00 to $23.00 in a research report issued on Monday, January 29th, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Robert W. Baird’s target price points to a potential upside of 81.53% from the stock’s current price.
A number of other equities analysts have also commented on CNX. Scotiabank restated a “hold” rating on shares of CNX Resources in a research report on Wednesday, October 4th. Jefferies Group restated a “buy” rating and issued a $20.00 price objective on shares of CNX Resources in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and issued a $24.00 price objective on shares of CNX Resources in a research report on Friday, October 13th. Finally, SunTrust Banks set a $17.00 target price on shares of CNX Resources and gave the company a “hold” rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. CNX Resources has an average rating of “Hold” and an average price target of $23.00.
CNX Resources (CNX) opened at $12.67 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.94 and a quick ratio of 0.86. CNX Resources has a 1 year low of $11.35 and a 1 year high of $15.51. The company has a market cap of $2,920.00, a P/E ratio of 7.54 and a beta of 1.49.
CNX Resources (NYSE:CNX) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas producer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. CNX Resources had a net margin of 14.03% and a return on equity of 1.35%. The company had revenue of $333.30 million during the quarter, compared to analyst estimates of $331.76 million. During the same period last year, the business earned ($1.33) earnings per share. CNX Resources’s revenue was up 19.0% compared to the same quarter last year. analysts predict that CNX Resources will post 0.32 EPS for the current fiscal year.
CNX Resources announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 31st that authorizes the company to buyback $369.00 million in shares. This buyback authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in CNX. Teachers Advisors LLC lifted its position in CNX Resources by 1.9% during the second quarter. Teachers Advisors LLC now owns 264,067 shares of the oil and gas producer’s stock valued at $3,945,000 after purchasing an additional 4,801 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in CNX Resources by 0.6% during the second quarter. TIAA CREF Investment Management LLC now owns 717,012 shares of the oil and gas producer’s stock valued at $10,712,000 after purchasing an additional 4,134 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of CNX Resources by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 662,566 shares of the oil and gas producer’s stock worth $9,899,000 after acquiring an additional 31,422 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of CNX Resources by 2.2% during the second quarter. Nationwide Fund Advisors now owns 333,426 shares of the oil and gas producer’s stock worth $4,981,000 after acquiring an additional 7,088 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of CNX Resources by 26.9% during the second quarter. Amalgamated Bank now owns 40,477 shares of the oil and gas producer’s stock worth $605,000 after acquiring an additional 8,570 shares in the last quarter. Institutional investors and hedge funds own 96.83% of the company’s stock.
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CNX Resources Company Profile
CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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