Counterpoint Mutual Funds LLC Increases Position in CNX Resources Co. (NYSE:CNX)

Counterpoint Mutual Funds LLC raised its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 149.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,637 shares of the oil and gas producer's stock after acquiring an additional 11,770 shares during the quarter. Counterpoint Mutual Funds LLC's holdings in CNX Resources were worth $720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in 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 purchasing an additional 2,663 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in CNX Resources in the third quarter worth about $205,000. Natixis Advisors LLC increased its position in CNX Resources by 3.1% in the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of CNX Resources by 311.0% in the third 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 period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CNX Resources by 12.2% during the 3rd 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 buying an additional 202,890 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

CNX has been the subject of several analyst reports. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Morgan Stanley assumed coverage on CNX Resources in a report on Friday, January 10th. They issued an "underweight" rating and a $29.00 price target on the stock. Piper Sandler cut their price objective on shares of CNX Resources from $23.00 to $22.00 and set an "underweight" rating for the company in a report on Wednesday, January 29th. Finally, Mizuho reduced their price objective on shares of CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, CNX Resources presently has an average rating of "Hold" and an average price target of $30.38.

CNX Resources Price Performance

Shares of NYSE:CNX traded down $0.24 on Friday, reaching $31.79. The company's stock had a trading volume of 2,789,663 shares, compared to its average volume of 2,618,475. The company has a 50-day simple moving average of $29.68 and a 200 day simple moving average of $33.02. CNX Resources Co. has a 52-week low of $22.25 and a 52-week high of $41.93. 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 cap of $4.73 billion, a P/E ratio of -46.75, a PEG ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 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%. As a group, equities research analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Insider Activity

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares of the company's stock, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.