Corient Private Wealth LP Makes New $1.11 Million Investment in CNX Resources Corporation. $CNX

Corient Private Wealth LP purchased a new position in shares of CNX Resources Corporation. (NYSE:CNX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,719 shares of the oil and gas producer’s stock, valued at approximately $1,110,000.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CNX Resources by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,878 shares of the oil and gas producer’s stock valued at $2,735,000 after buying an additional 3,785 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in CNX Resources during the 1st quarter worth about $583,000. EverSource Wealth Advisors LLC grew its stake in CNX Resources by 393.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after acquiring an additional 1,535 shares during the period. Marshall Wace LLP purchased a new position in CNX Resources during the second quarter worth approximately $272,000. Finally, Cerity Partners LLC acquired a new position in CNX Resources during the second quarter valued at approximately $236,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNX has been the subject of several analyst reports. Weiss Ratings downgraded CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Truist Financial upgraded shares of CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research report on Wednesday, July 15th. Mizuho dropped their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley decreased their price objective on CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a research report on Monday, June 29th. Finally, Tudor Pickering upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Nine analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, CNX Resources has a consensus rating of “Reduce” and a consensus target price of $35.44.

CNX Resources Stock Performance

NYSE CNX opened at $37.47 on Friday. The company’s fifty day moving average is $34.85 and its two-hundred day moving average is $36.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.72 and a quick ratio of 0.67. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 6.26 and a beta of 0.61. CNX Resources Corporation. has a 52-week low of $28.82 and a 52-week high of $43.62.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.72. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%.The company had revenue of $618.48 million for the quarter, compared to analyst estimates of $475.16 million. During the same period in the prior year, the company posted $2.43 EPS. The company’s revenue was down 35.7% compared to the same quarter last year. Equities research analysts forecast that CNX Resources Corporation. will post 3.08 EPS for the current year.

CNX Resources 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.