BW Gestao de Investimentos Ltda. Invests $1.25 Million in CNX Resources Corporation. $CNX

BW Gestao de Investimentos Ltda. purchased a new stake in shares of CNX Resources Corporation. (NYSE:CNX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 38,789 shares of the oil and gas producer’s stock, valued at approximately $1,246,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vestcor Inc purchased a new stake in shares of CNX Resources in the third quarter worth approximately $108,000. Russell Investments Group Ltd. lifted its position in CNX Resources by 1.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 79,540 shares of the oil and gas producer’s stock worth $2,556,000 after buying an additional 828 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of CNX Resources by 3.2% during the 3rd quarter. Schroder Investment Management Group now owns 358,716 shares of the oil and gas producer’s stock valued at $11,658,000 after buying an additional 11,071 shares during the period. First Trust Advisors LP grew its holdings in shares of CNX Resources by 34.5% during the 3rd quarter. First Trust Advisors LP now owns 499,887 shares of the oil and gas producer’s stock valued at $16,056,000 after acquiring an additional 128,357 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of CNX Resources during the third quarter worth $3,618,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNX shares. Zacks Research upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Roth Mkm set a $35.00 price objective on CNX Resources and gave the stock a “neutral” rating in a report on Thursday, January 29th. Scotiabank reiterated a “sector perform” rating and issued a $44.00 target price on shares of CNX Resources in a research note on Wednesday, January 21st. Piper Sandler set a $26.00 price target on shares of CNX Resources in a research note on Monday, February 2nd. Finally, Morgan Stanley lifted their price objective on shares of CNX Resources from $31.00 to $32.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, CNX Resources presently has a consensus rating of “Reduce” and a consensus price target of $36.00.

CNX Resources Stock Down 1.8%

CNX opened at $40.74 on Tuesday. CNX Resources Corporation. has a 1-year low of $27.68 and a 1-year high of $43.62. The business has a 50 day moving average of $38.35 and a 200-day moving average of $35.58. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.43 and a beta of 0.65. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 EPS for the quarter, beating the consensus estimate of $0.34 by $0.94. The firm had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The business’s quarterly revenue was up 347.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.97) EPS. As a group, sell-side analysts anticipate that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. sold 46,119 shares of CNX Resources stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the sale, the director directly owned 177,180 shares of the company’s stock, valued at $7,193,508. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.59% of the stock is currently owned by company insiders.

CNX Resources Company 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.