AlphaQuest LLC Purchases Shares of 18,710 CNX Resources Co. (NYSE:CNX)

AlphaQuest LLC purchased a new stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,710 shares of the oil and gas producer's stock, valued at approximately $686,000.

Several other hedge funds have also bought and sold shares of CNX. Principal Securities Inc. lifted its position in shares of CNX Resources by 38.5% in the fourth 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. lifted its position in shares of CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after acquiring an additional 1,280 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of CNX Resources in the fourth quarter valued at about $121,000. Oppenheimer Asset Management Inc. purchased a new position in shares of CNX Resources in the third quarter valued at about $205,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of CNX Resources in the third quarter valued at about $209,000. Institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

CNX has been the topic of several research analyst reports. Truist Financial boosted their price objective on CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research report on Friday, December 6th. StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Mizuho decreased their target price on CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. Roth Capital set a $30.00 target price on CNX Resources in a research report on Thursday, January 23rd. Finally, TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They issued a "hold" rating and a $27.00 target price on the stock. Nine 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, the stock currently has an average rating of "Reduce" and an average target price of $29.69.

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Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company'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 transaction of $33,421,750.00. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.10% of the company's stock.

CNX Resources Trading Down 2.5 %

Shares of CNX stock opened at $29.84 on Wednesday. CNX Resources Co. has a 1 year low of $21.00 and a 1 year high of $41.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The stock's 50 day simple moving average is $29.96 and its two-hundred day simple moving average is $32.94. The company has a market cap of $4.44 billion, a PE ratio of -43.87, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings data 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%. Research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

CNX Resources Company 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.

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