CNX Resources (NYSE:CNX) Price Target Raised to $25.00 at Piper Sandler

CNX Resources (NYSE:CNX) had its price target raised by investment analysts at Piper Sandler from $21.00 to $25.00 in a research note issued on Tuesday, Marketbeat reports. The firm currently has an “underweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price would suggest a potential downside of 22.91% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. Mizuho increased their price objective on CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a research note on Tuesday. Cowen reaffirmed a “hold” rating on shares of CNX Resources in a report on Friday, April 25th. Finally, Stephens raised shares of CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.58.

CNX Resources Stock Down 0.6%

Shares of CNX Resources stock opened at $32.43 on Tuesday. CNX Resources has a 12-month low of $23.63 and a 12-month high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $30.59 and a two-hundred day moving average price of $32.67. The stock has a market capitalization of $4.69 billion, a P/E ratio of -47.69, a PEG ratio of 0.42 and a beta of 0.62.

Insider Buying and Selling at CNX Resources

In related news, Director J. Palmer Clarkson bought 10,000 shares of CNX Resources stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the transaction, the director now owns 245,433 shares of the company’s stock, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Congress Asset Management Co. lifted its holdings in CNX Resources by 7.2% during the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock worth $9,771,000 after buying an additional 17,951 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of CNX Resources in the 4th quarter valued at $1,556,000. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock worth $73,357,000 after acquiring an additional 139,647 shares during the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of CNX Resources during the fourth quarter valued at $1,047,000. Finally, Assetmark Inc. lifted its stake in shares of CNX Resources by 2.2% during the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock valued at $32,469,000 after acquiring an additional 19,309 shares during the period. Institutional investors and hedge funds 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.