MKM Partners reaffirmed their neutral rating on shares of CNX Resources (NYSE:CNX) in a report issued on Monday, BenzingaRatingsTable reports. They currently have a $11.00 price objective on the oil and gas producer’s stock.
Several other equities analysts also recently commented on CNX. Wells Fargo & Co started coverage on shares of CNX Resources in a research note on Thursday, June 25th. They set an overweight rating and a $15.00 price objective for the company. ValuEngine cut shares of CNX Resources from a hold rating to a sell rating in a report on Saturday, August 1st. Stifel Nicolaus cut shares of CNX Resources from a buy rating to a hold rating and set a $9.00 price target on the stock. in a report on Monday, June 1st. Raymond James dropped their target price on shares of CNX Resources from $14.00 to $12.00 and set an outperform rating on the stock in a report on Monday, July 20th. Finally, SunTrust Banks raised their target price on shares of CNX Resources from $7.00 to $14.00 and gave the stock a buy rating in a report on Friday, April 24th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $12.01.
CNX Resources stock opened at $11.06 on Monday. The company has a market capitalization of $2.21 billion, a PE ratio of -3.30 and a beta of 1.59. The firm has a fifty day simple moving average of $9.69 and a two-hundred day simple moving average of $8.79. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. CNX Resources has a twelve month low of $4.26 and a twelve month high of $14.19.
CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating the consensus estimate of $0.04 by $0.09. The firm had revenue of $148.80 million during the quarter, compared to the consensus estimate of $328.76 million. CNX Resources had a negative net margin of 39.32% and a positive return on equity of 1.45%. The company’s quarterly revenue was down 75.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. As a group, equities analysts expect that CNX Resources will post 0.49 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in CNX. Levin Capital Strategies L.P. grew its stake in shares of CNX Resources by 60.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 40,000 shares of the oil and gas producer’s stock worth $346,000 after buying an additional 15,000 shares in the last quarter. Yaupon Capital Management LP purchased a new position in shares of CNX Resources in the 2nd quarter worth $2,461,000. AQR Capital Management LLC purchased a new position in shares of CNX Resources in the 2nd quarter worth $7,874,000. Engineers Gate Manager LP grew its stake in shares of CNX Resources by 117.9% in the 2nd quarter. Engineers Gate Manager LP now owns 61,887 shares of the oil and gas producer’s stock worth $535,000 after buying an additional 33,487 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of CNX Resources by 2.9% in the 2nd quarter. California State Teachers Retirement System now owns 291,548 shares of the oil and gas producer’s stock worth $2,522,000 after buying an additional 8,155 shares in the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.
About CNX Resources
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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