CNX Resources (NYSE:CNX) Given New $22.00 Price Target at Piper Sandler

CNX Resources (NYSE:CNX) had its price target raised by Piper Sandler from $18.00 to $22.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

CNX has been the topic of several other research reports. Bank of America raised shares of CNX Resources from an underperform rating to a neutral rating and set a $23.00 target price on the stock in a research note on Friday, January 5th. Mizuho raised their target price on shares of CNX Resources from $24.00 to $25.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Scotiabank raised their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a sector underperform rating in a research note on Thursday, April 11th. Roth Mkm raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. Finally, Truist Financial raised their target price on shares of CNX Resources from $28.00 to $30.00 and gave the company a buy rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $24.43.

CNX Resources Stock Up 1.4 %

Shares of NYSE:CNX opened at $24.02 on Friday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 2.64 and a beta of 1.33. CNX Resources has a 1-year low of $14.36 and a 1-year high of $24.82. The company’s fifty day moving average is $22.16 and its two-hundred day moving average is $21.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business had revenue of $999.50 million for the quarter, compared to analysts’ expectations of $401.62 million. During the same quarter last year, the company earned $1.64 EPS. The company’s revenue for the quarter was down 38.9% compared to the same quarter last year. Equities analysts anticipate that CNX Resources will post 1.31 EPS for the current year.

Insider Buying and Selling

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the sale, the executive vice president now directly owns 67,982 shares in the company, valued at $1,416,065.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CNX Resources

Several institutional investors have recently made changes to their positions in CNX. Southeastern Asset Management Inc. TN raised its position in CNX Resources by 19.9% during the first quarter. Southeastern Asset Management Inc. TN now owns 13,758,674 shares of the oil and gas producer’s stock valued at $220,414,000 after acquiring an additional 2,279,108 shares in the last quarter. State Street Corp raised its position in CNX Resources by 15.6% during the first quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock valued at $270,061,000 after acquiring an additional 1,760,214 shares in the last quarter. Vanguard Group Inc. raised its position in CNX Resources by 10.5% during the third quarter. Vanguard Group Inc. now owns 18,448,774 shares of the oil and gas producer’s stock valued at $286,510,000 after acquiring an additional 1,758,826 shares in the last quarter. Renaissance Technologies LLC raised its position in CNX Resources by 2,477.3% during the first quarter. Renaissance Technologies LLC now owns 1,513,616 shares of the oil and gas producer’s stock valued at $31,362,000 after acquiring an additional 1,454,887 shares in the last quarter. Finally, LSV Asset Management raised its position in CNX Resources by 223.4% during the fourth quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock valued at $29,787,000 after acquiring an additional 1,028,805 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.