CNX Resources (CNX) Downgraded by Zacks Investment Research to "Sell"

Zacks Investment Research downgraded shares of CNX Resources (NYSE: CNX) According to Zacks, "Over the past twelve months, the shares of CNX Resources Corporation have performed well in its industry. "CNX Resources Dependence on Third-Party Assets for Processing and Transportation Exploration and production of natural gas has many risks and could affect its bottom line. CNX Resources' low-cost natural gas production sectors To reduce emissions, natural gas demand will be stimulated and the oil and gas company will focus its efforts on the low-cost Appalachian region.

Several other research firms have also recently taken a position on CNX. ValuEngine passed CNX Resources a sales rating to a trust rating in a report on Friday, June 1st. Stifel Nicolaus assumed coverage of CNX Resources in a report on Tuesday, May 22. They set a conservation rating and a $ 18.00 price goal on the stock. Two equity research analysts rated the stock with a sales note, five assigned a reserve rating and six issued a buy note to the company. The stock currently has an average Hold rating and an average target price of $ 21.50

CNX Resources opened Tuesday at $ 17.12, according to Marketbeat Ratings. The company has a debt ratio of 0.44, a ratio of 0.91 and a capital ratio of 0.93. CNX Resources has a twelve-month low of $ 11.57 and a twelve-month high of $ 18.37. The company has a market capitalization of $ 3.76 billion, a price / earnings ratio of -107.00 and a beta of 1.16.
[CNN]: CNX Resources (NYSE: CNX) last released its quarterly results on Thursday, May 3rd. The oil and gas producer reported earnings per share of $ 0.19 for the quarter, exceeding the consensus estimate of Thomson Reuters by $ 0.12 by $ 0.12. CNX Resources had a return on equity of 1.36% and a net margin of 37.74%. The company achieved a turnover of $ 496.00 million for the quarter, compared with the consensus estimate of $ 408.68 million. In the same quarter last year, the company posted earnings per share of $ 0.17. CNX Resources' revenue for the quarter increased 55.0% from one year to the next. Analysts predict that CNX Resources will post 0.6 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently changed their position in the company. Dimensional Fund Advisors LP raised its holdings in CNX Resources by 27.3% in the first quarter. Dimensional Fund Advisors LP now holds 14,937,828 shares of oil and gas producers valued at $ 230,491,000 after purchasing an additional 3,202,772 shares during the period. Geode Capital Management LLC raised its holdings in CNX Resources by 4.5% in the fourth quarter. Geode Capital Management LLC now holds 1,787,243 shares of an oil and gas producer worth $ 26,146,000 after purchasing 77,280 additional shares during the period. Bank of Montreal Can raised its holdings in CNX Resources by 10.4% in the second quarter. Bank of Montreal Can now holds 1,466,626 shares of an oil and gas producer valued at $ 26,077,000 after purchasing an additional 138,034 shares during the period. Dalton Greiner Hartman Maher & Co. raised its holdings in CNX Resources by 6.2% in the first quarter. Dalton Greiner Hartman Maher & Co. now holds 1,320,378 shares in the oil and gas company worth $ 20,373,000 after purchasing 77,533 additional shares during the period. Southeast Asset Advisors Inc. raised its holdings in CNX Resources by 25.8% in the first quarter. Southeast Asset Advisors Inc. now holds 1,027,742 shares of oil and gas producers valued at $ 15,858,000 after purchasing an additional 210,730 shares during the period. 96.01% of the stock is currently held by hedge funds and other institutional investors.

About CNX Resources

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

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