CNX Resources (NYSE:CNX) Stock Price Down 2.9% – Should You Sell?

by · The Markets Daily

CNX Resources Co. (NYSE:CNX – Get Free Report)’s stock price fell 2.9% during mid-day trading on Monday . The stock traded as low as $31.67 and last traded at $32.15. 692,495 shares were traded during mid-day trading, a decline of 84% from the average session volume of 4,306,194 shares. The stock had previously closed at $33.12.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Mizuho downgraded shares of CNX Resources from a “neutral” rating to an “underperform” rating and upped their target price for the company from $33.00 to $38.00 in a research note on Monday, December 16th. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Monday, October 14th. Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Bank of America initiated coverage on shares of CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded CNX Resources from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $31.00 to $37.00 in a report on Thursday, December 5th. Eight investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $30.50.

Get Our Latest Stock Report on CNX Resources

CNX Resources Stock Up 2.3 %

The company has a market cap of $4.66 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.42. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $37.37 and a 200-day simple moving average of $31.69.

CNX Resources (NYSE:CNX – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The business had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. During the same quarter last year, the business earned $0.35 earnings per share. As a group, analysts predict that CNX Resources Co. will post 1.54 EPS for the current year.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

Several hedge funds have recently modified their holdings of the stock. CWA Asset Management Group LLC purchased a new position in CNX Resources during the 4th quarter worth approximately $241,000. World Investment Advisors LLC acquired a new position in CNX Resources during the third quarter valued at $534,000. Geode Capital Management LLC boosted its position in CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after acquiring an additional 12,333 shares during the period. M&T Bank Corp raised its holdings in shares of CNX Resources by 25.4% during the third quarter. M&T Bank Corp now owns 18,057 shares of the oil and gas producer’s stock worth $588,000 after acquiring an additional 3,663 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in CNX Resources in the third quarter valued at approximately $212,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Company Profile

(Get Free Report)

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.

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