6,768 Shares in CNX Resources Co. (NYSE:CNX) Bought by Forum Financial Management LP

Forum Financial Management LP bought a new position in shares of CNX Resources Co. (NYSE:CNX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,768 shares of the oil and gas producer’s stock, valued at approximately $220,000.

Other institutional investors have also added to or reduced their stakes in the company. Mizuho Markets Americas LLC purchased a new position in shares of CNX Resources during the second quarter worth about $97,200,000. American Century Companies Inc. increased its holdings in shares of CNX Resources by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after buying an additional 397,729 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of CNX Resources by 197.0% in the 2nd quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock worth $11,324,000 after buying an additional 309,100 shares during the last quarter. LSV Asset Management raised its position in shares of CNX Resources by 18.0% during the 1st quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock valued at $41,679,000 after buying an additional 267,768 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of CNX Resources by 533.4% during the 1st quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock worth $6,795,000 after acquiring an additional 241,250 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNX. BMO Capital Markets raised their price target on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Scotiabank increased their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Truist Financial lowered shares of CNX Resources from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $38.00 to $34.00 in a report on Monday, October 28th. Finally, Mizuho increased their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Six analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.00.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $35.38 on Wednesday. The business has a 50 day moving average of $31.79 and a 200 day moving average of $27.44. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $37.57. The company has a market cap of $5.28 billion, a PE ratio of 11.12, a P/E/G ratio of 1.67 and a beta of 1.37. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same period in the prior year, the business earned $0.35 EPS. As a group, equities research analysts forecast that CNX Resources Co. will post 1.5 earnings per share for the current year.

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.