42,434 Shares in CNX Resources Co. (NYSE:CNX) Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new position in shares of CNX Resources Co. (NYSE:CNX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 42,434 shares of the oil and gas producer's stock, valued at approximately $1,556,000.

A number of other institutional investors also recently modified their holdings of CNX. Blue Trust Inc. grew its position in shares of CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock valued at $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC grew its position in shares of CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after buying an additional 935 shares during the last quarter. Principal Securities Inc. grew its position in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after buying an additional 691 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at about $121,000. Finally, Longboard Asset Management LP bought a new stake in shares of CNX Resources in the 4th quarter valued at about $212,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm'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 value of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company's stock.

CNX Resources Stock Down 0.4 %

CNX Resources stock traded down $0.10 during mid-day trading on Friday, reaching $29.51. The stock had a trading volume of 2,966,066 shares, compared to its average volume of 3,940,064. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a fifty-two week low of $20.30 and a fifty-two week high of $41.93. The stock's 50-day simple moving average is $31.58 and its 200-day simple moving average is $32.58. The firm has a market capitalization of $4.39 billion, a PE ratio of -43.39, a price-to-earnings-growth ratio of 0.40 and a beta of 1.38.

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 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%. On average, sell-side analysts forecast that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on CNX. Morgan Stanley began coverage on CNX Resources in a research report on Friday, January 10th. They issued an "underweight" rating and a $29.00 price target on the stock. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday. Bank of America started coverage on CNX Resources in a research note on Monday, October 28th. They set an "underperform" rating and a $34.00 target price for the company. JPMorgan Chase & Co. cut CNX Resources from a "neutral" rating to an "underweight" rating and raised their target price for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Finally, Mizuho decreased their target price on CNX Resources from $38.00 to $34.00 and set an "underperform" rating for the company in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $29.67.

About CNX Resources

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.