Easterly Investment Partners LLC raised its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 36.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,750 shares of the oil and gas producer's stock after buying an additional 19,520 shares during the quarter. Easterly Investment Partners LLC's holdings in CNX Resources were worth $2,402,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the business. Mizuho Markets Americas LLC acquired a new position in shares of CNX Resources in the 2nd quarter valued at approximately $97,200,000. American Century Companies Inc. grew its holdings in CNX Resources by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer's stock valued at $89,890,000 after buying an additional 397,729 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of CNX Resources by 197.0% during the second quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer's stock worth $11,324,000 after purchasing an additional 309,100 shares during the last quarter. LSV Asset Management boosted its position in CNX Resources by 18.0% in the first quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer's stock valued at $41,679,000 after buying an additional 267,768 shares during the last quarter. Finally, Levin Capital Strategies L.P. purchased a new stake in CNX Resources in the 1st quarter valued at $4,813,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently commented on CNX. Truist Financial lowered CNX Resources from a "buy" rating to a "hold" rating and dropped their target price for the company from $38.00 to $34.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective on shares of CNX Resources from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Bank of America assumed coverage on shares of CNX Resources in a research note on Monday, October 28th. They set an "underperform" rating and a $34.00 price target on the stock. Mizuho upped their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Finally, Stephens boosted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $29.00.
Get Our Latest Analysis on CNX Resources
Insider Transactions at CNX Resources
In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company's stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now directly owns 401,820 shares of the company's stock, valued at $10,772,794.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by company insiders.
CNX Resources Price Performance
NYSE:CNX traded up $0.36 during trading hours on Friday, hitting $38.16. The company's stock had a trading volume of 2,276,577 shares, compared to its average volume of 2,717,514. The business's 50-day moving average is $32.33 and its two-hundred day moving average is $27.66. The company has a market capitalization of $5.70 billion, a PE ratio of 12.00, a PEG ratio of 1.71 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $38.81.
CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter last year, the company earned $0.35 EPS. As a group, research analysts anticipate that CNX Resources Co. will post 1.5 EPS for the current fiscal year.
About CNX Resources
(
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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