Rhumbline Advisers Purchases 6,404 Shares of CNX Resources Co. (NYSE:CNX)

Rhumbline Advisers boosted its position in shares of CNX Resources Co. (NYSE:CNX) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 494,625 shares of the oil and gas producer’s stock after purchasing an additional 6,404 shares during the quarter. Rhumbline Advisers owned about 0.33% of CNX Resources worth $18,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CNX. Geode Capital Management LLC grew its position in shares of CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after buying an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after acquiring an additional 202,890 shares during the last quarter. Aureus Asset Management LLC grew its holdings in CNX Resources by 0.6% during the 3rd quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock worth $20,919,000 after acquiring an additional 3,659 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after acquiring an additional 466,694 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new position in shares of CNX Resources in the 4th quarter valued at $9,281,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Down 0.4 %

CNX Resources stock opened at $29.51 on Friday. CNX Resources Co. has a twelve month low of $20.30 and a twelve month high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $31.58 and a 200-day moving average of $32.58. The stock has a market capitalization of $4.39 billion, a PE ratio of -43.39, a price-to-earnings-growth ratio of 0.40 and a beta of 1.38.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities research analysts anticipate that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Insider Transactions at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CNX has been the subject of a number of analyst reports. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Mizuho decreased their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Truist Financial upped their price target on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Piper Sandler reduced their price objective on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday. Nine equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $29.67.

About CNX Resources

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of 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.