CNX Resources (NYSE:CNX) Stock Price Target Raised at Barclays

CNX Resources (NYSE:CNX) had its price objective lifted by analysts at Barclays from $35.00 to $36.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the oil and gas producer’s stock. Barclays‘s price objective indicates a potential downside of 1.56% from the company’s previous close.

A number of other research firms also recently weighed in on CNX. Mizuho decreased their target price on CNX Resources from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 15th. Truist Financial boosted their price objective on shares of CNX Resources from $34.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, October 29th. Weiss Ratings raised CNX Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Benchmark reiterated a “hold” rating on shares of CNX Resources in a report on Thursday, October 29th. Finally, Scotiabank started coverage on CNX Resources in a research report on Wednesday, October 14th. They issued a “sector perform” rating and a $34.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $35.00.

CNX Resources Stock Performance

Shares of NYSE:CNX traded up $0.17 during trading on Friday, reaching $36.57. 93,538 shares of the company’s stock traded hands, compared to its average volume of 1,954,374. The company has a 50 day moving average of $35.00 and a 200-day moving average of $36.38. CNX Resources has a 12 month low of $30.77 and a 12 month high of $43.62. The stock has a market capitalization of $5.22 billion, a P/E ratio of 6.19 and a beta of 0.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.08 and a quick ratio of 1.02.

Hedge Funds Weigh In On CNX Resources

A number of large investors have recently bought and sold shares of CNX. BlackRock Inc. purchased a new stake in CNX Resources during the second quarter worth $650,689,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of CNX Resources by 6,057.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,838,852 shares of the oil and gas producer’s stock valued at $147,988,000 after purchasing an additional 3,776,511 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of CNX Resources during the 2nd quarter valued at about $87,949,000. Bank of New York Mellon Corp acquired a new position in shares of CNX Resources during the 2nd quarter worth about $41,432,000. Finally, Wellington Management Group LLP boosted its position in CNX Resources by 192.4% during the second quarter. Wellington Management Group LLP now owns 924,662 shares of the oil and gas producer’s stock worth $31,374,000 after acquiring an additional 608,386 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About CNX Resources

CNX Resources Corporation is an independent natural gas company headquartered in Canonsburg, Pennsylvania. It explores for, develops and produces natural gas, primarily from shale formations in the Appalachian Basin, including the Marcellus and Utica. The company’s operations are concentrated in Pennsylvania, West Virginia and Ohio. Its natural gas is supplied to markets that serve residential, commercial and industrial customers, as well as electric power generation. CNX traces its roots to the coal industry and the Consolidation Coal Company, founded in the 19th century.