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

CNX Resources (NYSE:CNX) had its price objective trimmed by Piper Sandler from $23.00 to $22.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the oil and gas producer’s stock.

Several other equities analysts have also commented on CNX. Bank of America initiated coverage on CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price for the company. Morgan Stanley started coverage on CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. BMO Capital Markets boosted their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Mizuho decreased their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Finally, Tudor Pickering raised CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Nine analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $29.67.

CNX Resources Trading Down 0.2 %

Shares of CNX opened at $27.74 on Wednesday. The firm’s 50-day moving average is $34.89 and its two-hundred day moving average is $32.18. The firm has a market capitalization of $4.14 billion, a P/E ratio of 8.72, a PEG ratio of 0.47 and a beta of 1.42. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC boosted its stake in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares in the last quarter. GAMMA Investing LLC increased its position in CNX Resources by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of CNX Resources during the 4th quarter valued at $121,000. Finally, Atomi Financial Group Inc. bought a new stake in shares of CNX Resources during the third quarter worth about $202,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

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.