Rhumbline Advisers decreased its position in CNX Resources Co. (NYSE:CNX – Free Report) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 599,463 shares of the oil and gas producer’s stock after selling 28,762 shares during the quarter. Rhumbline Advisers owned 0.36% of CNX Resources worth $9,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Miller Wealth Advisors LLC lifted its position in CNX Resources by 717.7% in the 1st quarter. Miller Wealth Advisors LLC now owns 1,063 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 933 shares during the last quarter. Quadrant Capital Group LLC increased its stake in CNX Resources by 87.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,599 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 748 shares during the period. Ameritas Advisory Services LLC purchased a new position in CNX Resources in the 1st quarter worth approximately $53,000. Ronald Blue Trust Inc. increased its stake in CNX Resources by 66.0% in the 1st quarter. Ronald Blue Trust Inc. now owns 4,238 shares of the oil and gas producer’s stock worth $71,000 after purchasing an additional 1,685 shares during the period. Finally, Point72 Middle East FZE purchased a new position in CNX Resources in the 4th quarter worth approximately $132,000. Institutional investors own 95.16% of the company’s stock.
Analyst Upgrades and Downgrades
CNX has been the topic of a number of analyst reports. Piper Sandler lifted their price target on CNX Resources from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Truist Financial lifted their price target on CNX Resources from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, July 24th. StockNews.com initiated coverage on CNX Resources in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Mizuho lifted their price target on CNX Resources from $18.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, CNX Resources has a consensus rating of “Hold” and a consensus price target of $19.60.
CNX Resources Price Performance
CNX opened at $22.67 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.54 and a current ratio of 0.58. CNX Resources Co. has a 52-week low of $14.36 and a 52-week high of $22.83. The stock has a market capitalization of $3.66 billion, a PE ratio of 2.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.37. The stock’s 50 day moving average price is $19.80 and its 200-day moving average price is $17.24.
CNX Resources (NYSE:CNX – Get Free Report) last posted its earnings results on Thursday, July 27th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $839.70 million for the quarter, compared to analysts’ expectations of $386.68 million. CNX Resources had a return on equity of 12.98% and a net margin of 49.95%. The business’s revenue was up 99.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, equities research analysts predict that CNX Resources Co. will post 1.6 EPS for the current year.
CNX Resources Profile
CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces 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.
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