CNX Resources (NYSE:CNX) Hits New 52-Week High – Time to Buy?

CNX Resources Corporation. (NYSE:CNX) reached a new 52-week high during trading on Wednesday . The company traded as high as $39.85 and last traded at $39.8690, with a volume of 490297 shares traded. The stock had previously closed at $38.99.

Wall Street Analyst Weigh In

CNX has been the topic of a number of research reports. Scotiabank lifted their price target on shares of CNX Resources from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 21st. Mizuho boosted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of CNX Resources in a research note on Monday. Barclays upped their price target on shares of CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. Finally, Siebert Williams Shank began coverage on shares of CNX Resources in a report on Monday, September 15th. They set a “hold” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CNX Resources has an average rating of “Reduce” and a consensus price target of $33.00.

CNX Resources Stock Up 1.3%

The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31. The company has a market cap of $5.52 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 0.37 and a beta of 0.64. The stock has a fifty day moving average price of $34.73 and a two-hundred day moving average price of $32.45.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.09. The business had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $408.80 million. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.The company’s quarterly revenue was up 37.6% on a year-over-year basis. On average, research analysts expect that CNX Resources Corporation. will post 2.18 EPS for the current year.

Institutional Investors Weigh In On CNX Resources

Large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in shares of CNX Resources by 59.7% during the first quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer’s stock worth $1,467,000 after acquiring an additional 17,424 shares during the period. LPL Financial LLC increased its position in shares of CNX Resources by 3.5% in the first quarter. LPL Financial LLC now owns 87,661 shares of the oil and gas producer’s stock valued at $2,760,000 after buying an additional 2,927 shares in the last quarter. Vanguard Group Inc. increased its holdings in CNX Resources by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer’s stock valued at $502,178,000 after acquiring an additional 665,289 shares in the last quarter. Jump Financial LLC raised its position in shares of CNX Resources by 1,945.1% during the 1st quarter. Jump Financial LLC now owns 353,992 shares of the oil and gas producer’s stock worth $11,144,000 after purchasing an additional 336,683 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of CNX Resources by 1.9% in the second quarter. US Bancorp DE now owns 25,944 shares of the oil and gas producer’s stock valued at $874,000 after acquiring an additional 477 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

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.