CNX Resources (NYSE:CNX) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, January 3rd.
A number of other research analysts also recently weighed in on CNX. Susquehanna Bancshares increased their price objective on shares of CNX Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 25th. Zacks Investment Research cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Seaport Global Securities initiated coverage on shares of CNX Resources in a report on Thursday, November 30th. They set a “buy” rating and a $32.00 target price for the company. SunTrust Banks set a $17.00 target price on shares of CNX Resources and gave the company a “hold” rating in a report on Tuesday, October 17th. Finally, Barclays set a $16.00 target price on shares of CNX Resources and gave the company a “hold” rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $22.91.
CNX Resources (NYSE:CNX) opened at $14.29 on Wednesday. The firm has a market cap of $3,284.77, a P/E ratio of -16.24 and a beta of 1.53. CNX Resources has a 52-week low of $11.29 and a 52-week high of $16.47. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62.
CNX Resources announced that its Board of Directors has initiated a share buyback program on Tuesday, October 31st that permits the company to repurchase $369.00 million in shares. This repurchase authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CNX Resources in the second quarter worth $573,000. Chicago Equity Partners LLC increased its stake in shares of CNX Resources by 62.5% in the second quarter. Chicago Equity Partners LLC now owns 127,505 shares of the oil and gas producer’s stock worth $1,905,000 after purchasing an additional 49,030 shares in the last quarter. Bridgewater Associates LP increased its stake in shares of CNX Resources by 252.0% in the second quarter. Bridgewater Associates LP now owns 65,283 shares of the oil and gas producer’s stock worth $975,000 after purchasing an additional 46,736 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of CNX Resources by 820.6% in the second quarter. Prudential Financial Inc. now owns 1,034,553 shares of the oil and gas producer’s stock worth $15,456,000 after purchasing an additional 922,170 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in shares of CNX Resources by 30.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 39,598 shares of the oil and gas producer’s stock worth $637,000 after purchasing an additional 9,152 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This piece was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://stocknewstimes.com/2018/01/21/cnx-resources-cnx-upgraded-at-valuengine.html.
CNX Resources Company Profile
CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for CNX Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNX Resources and related companies with MarketBeat.com's FREE daily email newsletter.