CNX Resources (CNX) Reaches New 1-Year Low at $12.50

CNX Resources Corp (NYSE:CNX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.50 and last traded at $12.57, with a volume of 4021498 shares trading hands. The stock had previously closed at $12.67.

Several equities analysts recently issued reports on the stock. Seaport Global Securities started coverage on shares of CNX Resources in a report on Thursday, November 30th. They set a “buy” rating and a $32.00 price target for the company. ValuEngine cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Stifel Nicolaus started coverage on shares of CNX Resources in a research report on Thursday, November 30th. They issued a “buy” rating and a $32.00 price objective for the company. Robert W. Baird started coverage on shares of CNX Resources in a research report on Tuesday, December 19th. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, Barclays set a $16.00 price objective on shares of CNX Resources and gave the company a “hold” rating in a research report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.00.

The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62. The firm has a market cap of $2,871.93, a PE ratio of 7.13 and a beta of 1.49.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. CNX Resources had a net margin of 14.03% and a return on equity of 1.35%. The firm had revenue of $333.30 million during the quarter, compared to analysts’ expectations of $331.76 million. During the same quarter last year, the company posted ($1.33) EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. analysts predict that CNX Resources Corp will post 0.32 earnings per share for the current year.

CNX Resources announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 31st that allows the company to buyback $369.00 million in shares. This buyback authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Several large investors have recently modified their holdings of CNX. Point72 Asset Management L.P. grew its position in shares of CNX Resources by 246.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,036,902 shares of the oil and gas producer’s stock worth $51,445,000 after buying an additional 2,161,302 shares during the period. Prudential Financial Inc. grew its position in shares of CNX Resources by 184.5% during the 3rd quarter. Prudential Financial Inc. now owns 2,943,572 shares of the oil and gas producer’s stock worth $49,864,000 after buying an additional 1,909,019 shares during the period. JPMorgan Chase & Co. grew its position in shares of CNX Resources by 224.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,939,209 shares of the oil and gas producer’s stock worth $31,939,000 after buying an additional 1,341,595 shares during the period. ANTIPODES PARTNERS Ltd grew its position in shares of CNX Resources by 42.9% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 4,384,926 shares of the oil and gas producer’s stock worth $64,151,000 after buying an additional 1,316,915 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of CNX Resources by 13.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,802,888 shares of the oil and gas producer’s stock worth $182,996,000 after buying an additional 1,308,911 shares during the period. Institutional investors own 96.83% of the company’s stock.

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About CNX Resources

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.

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