Partners Capital Investment Group LLP bought a new stake in CNX Resources Corp (NYSE:CNX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 86,692 shares of the oil and gas producer’s stock, valued at approximately $1,268,000.
Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in CNX Resources by 11.6% in the 3rd quarter. Pacer Advisors Inc. now owns 36,532 shares of the oil and gas producer’s stock valued at $619,000 after acquiring an additional 3,800 shares during the last quarter. ING Groep NV raised its holdings in CNX Resources by 17.7% in the 3rd quarter. ING Groep NV now owns 25,357 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 3,808 shares during the last quarter. Advantus Capital Management Inc raised its holdings in CNX Resources by 17.1% in the 3rd quarter. Advantus Capital Management Inc now owns 26,177 shares of the oil and gas producer’s stock valued at $443,000 after acquiring an additional 3,815 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in CNX Resources by 16.8% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,203 shares of the oil and gas producer’s stock valued at $512,000 after acquiring an additional 4,351 shares during the last quarter. Finally, State Treasurer State of Michigan raised its holdings in CNX Resources by 6.7% in the 3rd quarter. State Treasurer State of Michigan now owns 77,900 shares of the oil and gas producer’s stock valued at $1,320,000 after acquiring an additional 4,900 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.
CNX has been the subject of several analyst reports. Zacks Investment Research downgraded CNX Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 27th. Robert W. Baird boosted their price target on CNX Resources from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, January 29th. B. Riley initiated coverage on CNX Resources in a report on Tuesday, November 21st. They set a “buy” rating and a $32.00 price objective for the company. SunTrust Banks upgraded CNX Resources from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Finally, Stifel Nicolaus initiated coverage on CNX Resources in a report on Thursday, November 30th. They set a “buy” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.00.
Shares of CNX Resources Corp (CNX) traded down $0.71 during midday trading on Wednesday, reaching $15.54. The company had a trading volume of 7,367,811 shares, compared to its average volume of 4,412,226. CNX Resources Corp has a 52-week low of $11.29 and a 52-week high of $18.08. The firm has a market cap of $3,830.74, a P/E ratio of 9.36 and a beta of 1.26. The company has a current ratio of 1.93, a quick ratio of 1.91 and a debt-to-equity ratio of 0.57.
CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. The firm had revenue of $333.30 million during the quarter, compared to the consensus estimate of $331.76 million. During the same period in the prior year, the firm earned ($1.33) EPS. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. equities analysts predict that CNX Resources Corp will post 0.47 earnings per share for the current fiscal year.
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CNX Resources Profile
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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