9,643 Shares in CNX Resources Co. (NYSE:CNX) Acquired by M&T Bank Corp

M&T Bank Corp purchased a new stake in shares of CNX Resources Co. (NYSE:CNXFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,643 shares of the oil and gas producer’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its position in CNX Resources by 105.7% during the third quarter. Teacher Retirement System of Texas now owns 90,619 shares of the oil and gas producer’s stock valued at $2,046,000 after buying an additional 46,575 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in CNX Resources during the third quarter valued at approximately $302,000. Levin Capital Strategies L.P. acquired a new position in CNX Resources during the third quarter valued at approximately $452,000. Adirondack Trust Co. acquired a new position in CNX Resources during the third quarter valued at approximately $54,000. Finally, Allspring Global Investments Holdings LLC lifted its position in CNX Resources by 1,924.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,454 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 8,987 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Down 3.2 %

Shares of NYSE:CNX opened at $20.20 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $20.27 and a 200 day simple moving average of $21.10. The firm has a market cap of $3.21 billion, a PE ratio of 2.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.29. CNX Resources Co. has a 12-month low of $14.36 and a 12-month high of $23.68.

CNX Resources (NYSE:CNXGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $2.59. The business had revenue of $999.50 million during the quarter, compared to analyst estimates of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 8.99%. The business’s revenue was down 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, equities research analysts anticipate that CNX Resources Co. will post 1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho raised shares of CNX Resources from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 3rd. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Truist Financial upgraded shares of CNX Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $27.00 in a research note on Monday, December 4th. Piper Sandler dropped their price objective on shares of CNX Resources from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.00.

Read Our Latest Research Report on CNX

About CNX Resources

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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