CNX Resources

CNX · NYSE

$35.58−$0.15 (−0.42%)TodayMarket closed · Oct 21, 4:01 AM ET

Prev close $35.73

CNX analyst rating

HoldConsensus of 7 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold5
Underperform2
Sell0

12-month price target · 12 analysts

Average $38.25 (+7.5% upside)

Low: $32.32
Now: $35.58
High: $50.40

Upgrades and downgrades

The latest rating actions, newest first

CNX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Oct 16, 2026	Maintains	Hold	$35.00 → $34.00	63%
Scotiabank	Oct 15, 2026	Initiates	Sector Perform	$34.00	59%
Mizuho	Oct 15, 2026	Maintains	Neutral	$42.00 → $38.00	60%
Morgan Stanley	Oct 15, 2026	Maintains	Underweight	$32.00 → $34.00	66%
Truist Securities	Jul 15, 2026	Upgrade	Sell → Hold	$35.00	63%
Morgan Stanley	Jun 29, 2026	Maintains	Underweight	$34.00 → $32.00	66%
Mizuho	May 27, 2026	Maintains	Neutral	$44.00 → $42.00	60%
Barclays	May 26, 2026	Maintains	Underweight	$36.00 → $35.00	53%
Truist Securities	Mar 24, 2026	Initiates	Hold → Sell	$35.00	63%
Barclays	Mar 16, 2026	Maintains	Underweight	$35.00 → $36.00	53%

The case for and against

Updated Sep 8, 2026

Bull case

CNX Resources is a strong buy with a positive outlook on its core assets in the Marcellus and Utica Shales within the Appalachia Basin, as well as its New Tech business that provides a differentiated profile. With a focus on cost structure, CNX shows superior capital efficiency and impressive cash operating margins. The company's well productivity ranks first among operators, and it has a strong deep Utica resource with potential for further activity acceleration. The New Tech segment is expected to generate a significant amount of credits, contributing to an estimated NPV of $162MM. With an experienced management team in place, CNX is well-positioned for growth and continued success in the future.

Bear case

CNX Resources is a SMID-cap natural gas E&P with core assets in the Marcellus and Utica Shales, but with a negative outlook due to its lack of Tier 1 inventory, underdeveloped New Tech businesses, and M&A risk. Although it has a strong hedge and partnership strategy, its exposure to the volatile oil and gas industry, low LNG and power demand, and lack of well productivity are key concerns for its future development and cash flow. Additionally, the company has seen normal pad size and partial development in the Utica Shale, but has a long road ahead in fully exploiting this potential asset.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.