Manatuck Hill Partners LLC Acquires New Shares in CNX Resources Corporation. $CNX

Manatuck Hill Partners LLC acquired a new position in CNX Resources Corporation. (NYSE:CNX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 20,000 shares of the oil and gas producer’s stock, valued at approximately $679,000.

Other hedge funds have also bought and sold shares of the company. State of Wyoming bought a new position in CNX Resources during the 2nd quarter valued at about $29,000. Smartleaf Asset Management LLC grew its stake in shares of CNX Resources by 56.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 293 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of CNX Resources during the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC purchased a new position in shares of CNX Resources during the fourth quarter valued at approximately $50,000. Finally, Highlander Partners L.P. bought a new position in CNX Resources during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CNX shares. Truist Financial raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research report on Wednesday, July 15th. Morgan Stanley lowered their price target on CNX Resources from $34.00 to $32.00 and set an “underweight” rating on the stock in a report on Monday, June 29th. Zacks Research downgraded CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Barclays cut their price objective on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, May 26th. Finally, Mizuho reduced their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Nine research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $35.44.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $36.07 on Wednesday. CNX Resources Corporation. has a 12-month low of $28.57 and a 12-month high of $43.62. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 6.02 and a beta of 0.60. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $34.27 and a 200 day moving average of $36.78.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.72. The business had revenue of $618.48 million for the quarter, compared to the consensus estimate of $475.16 million. CNX Resources had a net margin of 36.53% and a return on equity of 10.40%. The company’s quarterly revenue was down 35.7% on a year-over-year basis. During the same period last year, the firm earned $2.43 earnings per share. On average, research analysts anticipate that CNX Resources Corporation. will post 3.08 earnings per share for the current year.

About CNX Resources

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.