Charles Schwab Investment Management Inc. Raises Stock Position in CNX Resources Co. (NYSE:CNX)

Charles Schwab Investment Management Inc. lifted its position in CNX Resources Co. (NYSE:CNX) by 7.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,000,464 shares of the oil and gas producer’s stock after buying an additional 139,647 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CNX Resources were worth $73,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNX. Entropy Technologies LP purchased a new position in shares of CNX Resources in the 3rd quarter worth approximately $519,000. Victory Capital Management Inc. grew its position in shares of CNX Resources by 2.8% in the 3rd quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer’s stock worth $3,191,000 after buying an additional 2,663 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of CNX Resources in the 3rd quarter worth approximately $205,000. Natixis Advisors LLC grew its position in shares of CNX Resources by 3.1% in the 3rd quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer’s stock worth $1,356,000 after buying an additional 1,241 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CNX Resources by 311.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after buying an additional 466,694 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Down 2.5 %

CNX stock opened at $29.84 on Wednesday. The firm’s fifty day simple moving average is $29.96 and its 200-day simple moving average is $32.94. The company has a market capitalization of $4.44 billion, a P/E ratio of -43.87, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. CNX Resources Co. has a 12 month low of $21.00 and a 12 month high of $41.93.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, equities research analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current year.

Analysts Set New Price Targets

CNX has been the topic of several research analyst reports. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Roth Capital set a $30.00 target price on shares of CNX Resources in a research report on Thursday, January 23rd. Morgan Stanley initiated coverage on shares of CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price on the stock. Finally, Truist Financial boosted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Nine investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $29.69.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

CNX Resources Profile

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.