CNX Resources (CNX) Receives a Buy from Raymond James

In a report released today, John Freeman from Raymond James reiterated a Buy rating on CNX Resources (CNX), with a price target of $18.00. The company’s shares closed last Monday at $14.02.

According to, Freeman is a 3-star analyst with an average return of 3.4% and a 42.7% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Occidental Petroleum.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CNX Resources with a $16.60 average price target.

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Based on CNX Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $315 million and net profit of $196 million. In comparison, last year the company earned revenue of $350 million and had a GAAP net loss of $271 million.

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CNX Resources Corp. is an oil and gas company. The firm engages in the exploration, development, production, gathering, processing and acquisition of natural gas properties in the Appalachian Basin. It operates through the following segments: Marcellus Shale, Coalbed Methane, Utica and Other Gas. The company was founded in 1864 and is headquartered in Canonsburg, PA.

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