KLP Kapitalforvaltning AS purchased a new stake in CNX Resources Co. (NYSE:CNX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 67,200 shares of the oil and gas producer's stock, valued at approximately $2,464,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Harvest Fund Management Co. Ltd bought a new position in shares of CNX Resources in the 4th quarter worth $39,000. VSM Wealth Advisory LLC purchased a new stake in CNX Resources in the 4th quarter valued at $55,000. Principal Securities Inc. lifted its stake in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares in the last quarter. Blue Trust Inc. boosted its holdings in CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after acquiring an additional 1,280 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in shares of CNX Resources in the fourth quarter valued at about $121,000. 95.16% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. TD Cowen assumed coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target for the company. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Finally, Truist Financial upped 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, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, CNX Resources currently has an average rating of "Hold" and an average price target of $30.69.
Check Out Our Latest Stock Report on CNX
CNX Resources Stock Performance
Shares of NYSE:CNX traded up $0.18 during trading on Friday, hitting $31.66. The company's stock had a trading volume of 1,105,289 shares, compared to its average volume of 2,663,598. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -46.56, a P/E/G ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 12 month low of $22.82 and a 12 month high of $41.93. The company has a 50-day moving average of $29.84 and a 200-day moving average of $33.30. 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 (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, sell-side analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current year.
Insider Activity at CNX Resources
In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the 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 sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by insiders.
CNX Resources Company Profile
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Free Report)
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.
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