CNX Resources (NYSE:CNX) Shares Gap Down to $22.57

CNX Resources Co. (NYSE:CNXGet Rating)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $22.57, but opened at $22.05. CNX Resources shares last traded at $22.57, with a volume of 11,708 shares.

A number of research analysts have commented on CNX shares. StockNews.com started coverage on CNX Resources in a report on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial increased their target price on CNX Resources from $16.00 to $22.00 in a report on Thursday. Piper Sandler downgraded CNX Resources from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $27.00 in a report on Thursday. Finally, Wells Fargo & Company raised their price target on CNX Resources from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.56.

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $4.17 billion, a P/E ratio of -9.02, a P/E/G ratio of 0.53 and a beta of 1.36. The firm has a fifty day moving average of $19.05 and a 200-day moving average of $15.97.

CNX Resources (NYSE:CNXGet Rating) last posted its earnings results on Thursday, January 27th. The oil and gas producer reported $0.31 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.18). The company had revenue of $448.00 million during the quarter, compared to analysts’ expectations of $528.39 million. Equities research analysts expect that CNX Resources Co. will post 2.07 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Liberty Wealth Management LLC increased its position in CNX Resources by 197.4% in the 3rd quarter. Liberty Wealth Management LLC now owns 2,498 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 1,658 shares during the period. Lazard Asset Management LLC acquired a new stake in CNX Resources in the 4th quarter valued at approximately $35,000. Dark Forest Capital Management LP increased its position in CNX Resources by 1,080.3% in the 3rd quarter. Dark Forest Capital Management LP now owns 2,632 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 2,409 shares during the period. Confluence Wealth Services Inc. acquired a new stake in CNX Resources in the 4th quarter valued at approximately $37,000. Finally, Point72 Hong Kong Ltd increased its position in shares of CNX Resources by 154.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,002 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 1,823 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.

CNX Resources Company Profile (NYSE:CNX)

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.

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