Exchange Traded Concepts LLC Takes Position in CNX Resources Corporation. $CNX

Exchange Traded Concepts LLC bought a new position in CNX Resources Corporation. (NYSE:CNX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,320 shares of the oil and gas producer’s stock, valued at approximately $878,000.

Other large investors have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its position in CNX Resources by 514.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the oil and gas producer’s stock worth $37,776,000 after acquiring an additional 1,004,545 shares during the period. Mackenzie Financial Corp lifted its position in shares of CNX Resources by 5,262.2% in the second quarter. Mackenzie Financial Corp now owns 555,473 shares of the oil and gas producer’s stock worth $18,708,000 after purchasing an additional 545,114 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CNX Resources by 112.2% in the second quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer’s stock worth $33,932,000 after purchasing an additional 532,770 shares in the last quarter. Corigliano Investment Advisers LLC acquired a new stake in shares of CNX Resources during the first quarter worth approximately $16,151,000. Finally, HRT Financial LP grew its position in CNX Resources by 212.9% during the second quarter. HRT Financial LP now owns 306,803 shares of the oil and gas producer’s stock valued at $10,333,000 after purchasing an additional 208,758 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 1.0%

Shares of NYSE:CNX opened at $36.63 on Monday. The stock has a market capitalization of $4.94 billion, a PE ratio of 25.61, a P/E/G ratio of 0.34 and a beta of 0.64. CNX Resources Corporation. has a 1 year low of $27.00 and a 1 year high of $42.13. The firm has a fifty day moving average price of $36.61 and a 200 day moving average price of $33.21. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.55.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.09. The company had revenue of $423.00 million for the quarter, compared to analyst estimates of $408.80 million. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.CNX Resources’s revenue for the quarter was up 37.6% on a year-over-year basis. Analysts expect that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of CNX Resources from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $36.00 to $38.00 in a research report on Monday, December 8th. Mizuho upped their price target on shares of CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Barclays increased their price objective on CNX Resources from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Zacks Research upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Scotiabank upped their target price on CNX Resources from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 21st. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $34.00.

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.