CNX Resources (NYSE:CNX) Upgraded at Tudor Pickering

Tudor Pickering upgraded shares of CNX Resources (NYSE:CNX) to a strong sell rating in a report issued on Tuesday, Zacks.com reports.

Several other equities research analysts have also commented on CNX. Tudor, Pickering, Holt & Co. lowered CNX Resources from a hold rating to a sell rating in a research note on Tuesday. StockNews.com lowered shares of CNX Resources from a hold rating to a sell rating in a report on Saturday, August 3rd. Piper Sandler cut shares of CNX Resources from a neutral rating to an underweight rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Mizuho increased their price objective on shares of CNX Resources from $30.00 to $32.00 and gave the stock a neutral rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CNX Resources from $26.00 to $27.00 and gave the company a neutral rating in a report on Thursday, September 12th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $27.22.

CNX Resources Price Performance

CNX opened at $34.09 on Tuesday. CNX Resources has a 1 year low of $19.07 and a 1 year high of $34.35. The company’s 50 day simple moving average is $27.87 and its 200 day simple moving average is $25.62. The stock has a market capitalization of $5.22 billion, a PE ratio of 6.18 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The company had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter last year, the business earned $0.29 EPS. As a group, sell-side analysts expect that CNX Resources will post 1.44 EPS for the current year.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNX Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Pullen Investment Management LLC grew its stake in CNX Resources by 2.3% in the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after purchasing an additional 623 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 666 shares during the last quarter. Riverwater Partners LLC raised its position in shares of CNX Resources by 1.0% during the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock valued at $1,558,000 after acquiring an additional 676 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of CNX Resources by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after purchasing an additional 941 shares during the period. Finally, Congress Asset Management Co. MA raised its stake in CNX Resources by 0.4% during the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after acquiring an additional 945 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.