Bayforest Capital Ltd Acquires New Shares in CNX Resources Corporation. $CNX

Bayforest Capital Ltd bought a new stake in shares of CNX Resources Corporation. (NYSE:CNX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,024 shares of the oil and gas producer’s stock, valued at approximately $579,000.

Other large investors have also recently made changes to their positions in the company. Southeast Asset Advisors LLC grew its position in shares of CNX Resources by 0.3% in the second quarter. Southeast Asset Advisors LLC now owns 2,414,955 shares of the oil and gas producer’s stock valued at $81,336,000 after purchasing an additional 6,930 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in CNX Resources by 16.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock valued at $47,152,000 after buying an additional 200,000 shares in the last quarter. AQR Capital Management LLC increased its position in shares of CNX Resources by 112.2% during the second quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer’s stock valued at $33,932,000 after buying an additional 532,770 shares during the period. Assetmark Inc. lifted its holdings in shares of CNX Resources by 1.1% in the second quarter. Assetmark Inc. now owns 899,631 shares of the oil and gas producer’s stock worth $30,300,000 after buying an additional 10,224 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of CNX Resources by 1.8% in the second quarter. Ameriprise Financial Inc. now owns 661,464 shares of the oil and gas producer’s stock worth $22,278,000 after buying an additional 11,475 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Stock Down 2.1%

Shares of NYSE:CNX opened at $34.55 on Friday. The firm has a market capitalization of $4.66 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 0.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.31 and a current ratio of 0.34. CNX Resources Corporation. has a 52-week low of $27.00 and a 52-week high of $42.13. The firm has a fifty day moving average of $37.39 and a 200 day moving average of $33.39.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.The business had revenue of $423.00 million for the quarter, compared to the consensus estimate of $408.80 million. The business’s revenue was up 37.6% compared to the same quarter last year. As a group, research analysts anticipate that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNX has been the subject of several recent analyst reports. Zacks Research raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Siebert Williams Shank assumed coverage on shares of CNX Resources in a report on Monday, September 15th. They issued a “hold” rating and a $32.00 price target for the company. 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 report 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 research report on Friday, October 31st. Finally, Morgan Stanley reduced their target price on CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price 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.