Arrowstreet Capital Limited Partnership Acquires Shares of 1,034,171 CNX Resources Co. (NYSE:CNX)

Arrowstreet Capital Limited Partnership acquired a new position in shares of CNX Resources Co. (NYSE:CNX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,034,171 shares of the oil and gas producer's stock, valued at approximately $37,923,000. Arrowstreet Capital Limited Partnership owned 0.69% of CNX Resources at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CNX. Congress Asset Management Co. raised its stake in CNX Resources by 7.2% during the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock worth $9,771,000 after purchasing an additional 17,951 shares during the period. World Investment Advisors LLC acquired a new stake in shares of CNX Resources during the 3rd quarter worth $534,000. Convergence Investment Partners LLC purchased a new position in shares of CNX Resources in the 4th quarter worth $1,556,000. Charles Schwab Investment Management Inc. boosted its holdings in CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after acquiring an additional 139,647 shares during the last quarter. Finally, Wakefield Asset Management LLLP purchased a new stake in CNX Resources during the fourth quarter valued at about $1,047,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Down 1.1 %

Shares of NYSE:CNX traded down $0.33 during trading on Monday, hitting $28.88. The company's stock had a trading volume of 3,640,603 shares, compared to its average volume of 2,664,539. CNX Resources Co. has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The stock's 50-day moving average price is $30.04 and its two-hundred day moving average price is $33.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The company has a market capitalization of $4.25 billion, a PE ratio of -42.46, a PEG ratio of 0.42 and a beta of 1.33.

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CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, sell-side analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Mizuho raised their price objective on CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a report on Monday. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Morgan Stanley set a $33.00 price objective on shares of CNX Resources and gave the stock an "underweight" rating in a research note on Wednesday, March 26th. Roth Capital set a $30.00 target price on shares of CNX Resources in a research note on Thursday, January 23rd. Finally, StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, CNX Resources currently has an average rating of "Reduce" and a consensus target price of $30.92.

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.