CNX Resources Co. (NYSE:CNX) Stock Holdings Increased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of CNX Resources Co. (NYSE:CNX) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,261 shares of the oil and gas producer’s stock after purchasing an additional 1,176 shares during the period. Wedge Capital Management L L P NC owned about 0.18% of CNX Resources worth $5,805,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Algert Global LLC acquired a new stake in shares of CNX Resources in the third quarter worth $350,000. QRG Capital Management Inc. acquired a new stake in CNX Resources during the 3rd quarter worth about $3,542,000. Comerica Bank purchased a new position in CNX Resources during the 3rd quarter valued at about $4,054,000. IFP Advisors Inc increased its holdings in shares of CNX Resources by 3,621.9% in the 3rd quarter. IFP Advisors Inc now owns 21,066 shares of the oil and gas producer’s stock valued at $476,000 after purchasing an additional 20,500 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of CNX Resources by 444.1% in the 3rd quarter. Stifel Financial Corp now owns 137,247 shares of the oil and gas producer’s stock valued at $3,099,000 after purchasing an additional 112,023 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.83, for a total value of $25,537.58. Following the sale, the executive vice president now owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.65% of the company’s stock.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $24.07 on Wednesday. The business’s 50-day simple moving average is $22.33 and its 200-day simple moving average is $21.38. CNX Resources Co. has a 52 week low of $14.36 and a 52 week high of $24.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 2.65 and a beta of 1.33.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. The company had revenue of $999.50 million for the quarter, compared to analyst estimates of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The company’s quarterly revenue was down 38.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 earnings per share. As a group, equities research analysts expect that CNX Resources Co. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of research analyst reports. Mizuho boosted their price objective on shares of CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Truist Financial lifted their target price on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler upped their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Scotiabank increased their price objective on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. Finally, Roth Mkm boosted their target price on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, CNX Resources currently has a consensus rating of “Hold” and an average price target of $24.43.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.