CNX Resources (CNX) Reaches New 12-Month Low at $9.58

Shares of CNX Resources Corp (NYSE:CNX) hit a new 52-week low during trading on Monday . The company traded as low as $9.58 and last traded at $9.87, with a volume of 123206 shares traded. The stock had previously closed at $9.78.

A number of analysts have commented on the company. TheStreet upgraded CNX Resources from a “d+” rating to a “b” rating in a research report on Tuesday, October 30th. MKM Partners assumed coverage on CNX Resources in a research report on Wednesday, December 5th. They issued a “buy” rating and a $19.00 price target for the company. Zacks Investment Research cut CNX Resources from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. ValuEngine upgraded CNX Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, January 7th. Finally, Tudor Pickering cut CNX Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $15.00.

The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 6.53 and a beta of 0.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.96 and a quick ratio of 0.94.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.39. The firm had revenue of $435.46 million during the quarter, compared to analyst estimates of $436.26 million. CNX Resources had a return on equity of 5.91% and a net margin of 46.03%. During the same quarter in the prior year, the company posted ($0.23) earnings per share. As a group, equities analysts predict that CNX Resources Corp will post 0.62 earnings per share for the current fiscal year.

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, December 19th. The stock was purchased at an average price of $11.95 per share, with a total value of $1,195,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in CNX Resources by 1.9% during the fourth quarter. BlackRock Inc. now owns 18,408,505 shares of the oil and gas producer’s stock valued at $210,225,000 after buying an additional 340,719 shares during the last quarter. Vanguard Group Inc. boosted its stake in CNX Resources by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,803,814 shares of the oil and gas producer’s stock valued at $197,533,000 after buying an additional 121,394 shares during the last quarter. Vanguard Group Inc boosted its stake in CNX Resources by 0.9% during the third quarter. Vanguard Group Inc now owns 13,803,814 shares of the oil and gas producer’s stock valued at $197,533,000 after buying an additional 121,394 shares during the last quarter. Key Group Holdings Cayman LTD. boosted its stake in CNX Resources by 15.1% during the third quarter. Key Group Holdings Cayman LTD. now owns 6,789,300 shares of the oil and gas producer’s stock valued at $97,155,000 after buying an additional 893,213 shares during the last quarter. Finally, Capital International Investors bought a new position in CNX Resources during the third quarter valued at approximately $89,223,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

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CNX Resources Company Profile (NYSE:CNX)

CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.

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