Midwest Professional Planners LTD. Acquires 1,962 Shares of CNX Resources Co. (NYSE:CNX)

Midwest Professional Planners LTD. boosted its holdings in shares of CNX Resources Co. (NYSE:CNX) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,361 shares of the oil and gas producer’s stock after purchasing an additional 1,962 shares during the period. Midwest Professional Planners LTD.’s holdings in CNX Resources were worth $967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its stake in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the last quarter. Blue Trust Inc. lifted its stake in CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 1,280 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in CNX Resources during the fourth quarter worth $121,000. Longboard Asset Management LP bought a new stake in CNX Resources during the fourth quarter worth $212,000. Finally, Autumn Glory Partners LLC bought a new stake in CNX Resources during the fourth quarter worth $220,000. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Performance

NYSE CNX opened at $29.83 on Friday. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -43.86, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a twelve month low of $21.07 and a twelve month high of $41.93. The stock has a fifty day simple moving average of $29.81 and a 200 day simple moving average of $32.91. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. Sell-side analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CNX. TD Cowen began coverage on CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price for the company. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Mizuho dropped their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Nine analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Reduce” and a consensus price target of $29.38.

About CNX Resources

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.