Mizuho Lowers CNX Resources (NYSE:CNX) Price Target to $42.00

by · The Cerbat Gem

CNX Resources (NYSE:CNX – Get Free Report) had its target price decreased by equities researchers at Mizuho from $44.00 to $42.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s target price points to a potential upside of 20.97% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Barclays lowered their price target on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating on shares of CNX Resources in a research report on Friday, March 27th. Piper Sandler set a $26.00 price target on shares of CNX Resources in a research report on Monday, February 2nd. Finally, Zacks Research lowered shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, CNX Resources has a consensus rating of “Reduce” and a consensus target price of $35.44.

Check Out Our Latest Research Report on CNX Resources

CNX Resources Stock Performance

NYSE CNX opened at $34.72 on Wednesday. The company’s 50 day moving average is $38.37 and its 200-day moving average is $38.31. CNX Resources has a 12-month low of $27.72 and a 12-month high of $43.62. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47. The firm has a market cap of $4.91 billion, a P/E ratio of 4.82 and a beta of 0.64.

Insider Buying and Selling

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the transaction, the director owned 426,585 shares of the company’s stock, valued at $16,316,876.25. The trade was a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maureen Lally-Green sold 23,631 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total transaction of $933,897.12. Following the completion of the transaction, the director directly owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.03% of the stock is owned by insiders.

Hedge Funds Weigh In On CNX Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in CNX Resources by 56.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 293 shares in the last quarter. Farther Finance Advisors LLC grew its stake in CNX Resources by 8.6% in the 4th quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock worth $164,000 after buying an additional 353 shares in the last quarter. Aigen Investment Management LP grew its stake in CNX Resources by 4.9% in the 4th quarter. Aigen Investment Management LP now owns 7,619 shares of the oil and gas producer’s stock worth $280,000 after buying an additional 354 shares in the last quarter. Arkadios Wealth Advisors grew its stake in CNX Resources by 3.2% in the 4th quarter. Arkadios Wealth Advisors now owns 13,028 shares of the oil and gas producer’s stock worth $479,000 after buying an additional 400 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in CNX Resources by 5.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock worth $349,000 after buying an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

(Get Free Report)

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.

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