CNX Resources (NYSE:CNX) Price Target Cut to $31.00 by Analysts at JPMorgan Chase & Co.

CNX Resources (NYSE:CNX) had its target price reduced by JPMorgan Chase & Co. from $32.00 to $31.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other research firms have also recently commented on CNX. Truist Financial cut shares of CNX Resources from a “buy” rating to a “hold” rating and cut their price objective for the company from $38.00 to $34.00 in a research report on Monday. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research report on Monday, October 14th. Stephens boosted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.00.

CNX Resources Price Performance

Shares of CNX stock opened at $35.10 on Wednesday. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 6.36 and a beta of 1.38. CNX Resources has a 12-month low of $19.07 and a 12-month high of $37.57. The firm has a fifty day moving average of $31.38 and a 200-day moving average of $27.20. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the previous year, the firm posted $0.35 EPS. On average, equities research analysts forecast that CNX Resources will post 1.43 earnings per share for the current year.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares in the last quarter. Blue Trust Inc. grew its position in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,131 shares in the last quarter. CWM LLC grew its position in shares of CNX Resources by 77.0% during the 3rd 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 in the last quarter. Natixis bought a new stake in shares of CNX Resources during the 1st quarter worth approximately $79,000. Finally, Innealta Capital LLC bought a new stake in shares of CNX Resources during the 2nd quarter worth approximately $131,000. 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.