Neo Ivy Capital Management Invests $3.62 Million in CNX Resources Corporation. $CNX

Neo Ivy Capital Management bought a new stake in CNX Resources Corporation. (NYSE:CNX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 112,642 shares of the oil and gas producer’s stock, valued at approximately $3,618,000. CNX Resources makes up about 0.9% of Neo Ivy Capital Management’s holdings, making the stock its 17th biggest holding.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CNX Resources by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,878 shares of the oil and gas producer’s stock worth $2,735,000 after acquiring an additional 3,785 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in CNX Resources in the first quarter valued at approximately $583,000. Savant Capital LLC grew its position in CNX Resources by 25.6% in the second quarter. Savant Capital LLC now owns 13,923 shares of the oil and gas producer’s stock valued at $469,000 after acquiring an additional 2,834 shares in the last quarter. Fox Run Management L.L.C. raised its stake in shares of CNX Resources by 26.0% during the second quarter. Fox Run Management L.L.C. now owns 20,567 shares of the oil and gas producer’s stock valued at $693,000 after purchasing an additional 4,250 shares during the period. Finally, Allworth Financial LP raised its stake in shares of CNX Resources by 1,491.5% during the second quarter. Allworth Financial LP now owns 5,618 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 5,265 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

CNX Resources stock opened at $41.51 on Friday. The stock has a market cap of $5.91 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $38.27 and a 200-day moving average of $35.40. CNX Resources Corporation. has a 52 week low of $27.68 and a 52 week high of $43.62.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.94. The business had revenue of $610.48 million during the quarter, compared to analyst estimates of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The business’s revenue was up 347.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.97) earnings per share. On average, analysts expect that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other CNX Resources news, Director Bernard Lanigan, Jr. sold 46,119 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the completion of the transaction, the director directly owned 177,180 shares of the company’s stock, valued at $7,193,508. This trade represents a 20.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on CNX shares. Piper Sandler set a $26.00 target price on shares of CNX Resources in a research note on Monday, February 2nd. Mizuho lifted their price target on shares of CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Barclays boosted their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Morgan Stanley upped their price objective on shares of CNX Resources from $31.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, January 23rd. Finally, Zacks Research upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $36.00.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.