CNX Resources Co. (NYSE:CNX) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 112.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,819 shares of the oil and gas producer's stock after acquiring an additional 41,793 shares during the period. Edgestream Partners L.P. owned 0.05% of CNX Resources worth $2,567,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of CNX Resources by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 112,259 shares of the oil and gas producer's stock worth $2,663,000 after purchasing an additional 5,975 shares in the last quarter. Boston Partners acquired a new stake in CNX Resources in the first quarter worth about $951,000. GAMMA Investing LLC grew its stake in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock worth $46,000 after acquiring an additional 666 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of CNX Resources by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer's stock valued at $4,629,000 after purchasing an additional 23,069 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in CNX Resources in the 2nd quarter worth approximately $749,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now directly owns 401,820 shares of the company's stock, valued at $10,772,794.20. The trade was a 22.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.65% of the stock is owned by corporate insiders.

CNX Resources Price Performance

Shares of CNX Resources stock traded up $0.36 during trading hours on Tuesday, reaching $39.83. The stock had a trading volume of 1,298,002 shares, compared to its average volume of 2,092,233. CNX Resources Co. has a twelve month low of $19.07 and a twelve month high of $41.93. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.95 billion, a PE ratio of 12.53, a PEG ratio of 1.91 and a beta of 1.43. The stock's 50 day moving average is $36.24 and its 200 day moving average is $29.61.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million for 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 in the prior year, the business posted $0.35 earnings per share. Equities analysts expect that CNX Resources Co. will post 1.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CNX shares. Tudor Pickering upgraded shares of CNX Resources to a "strong sell" rating in a research note on Tuesday, October 1st. Stephens raised their target price on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Bank of America began coverage on 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 raised their price objective on CNX Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, Tudor, Pickering, Holt & Co. lowered CNX Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, CNX Resources currently has a consensus rating of "Hold" and a consensus price target of $29.00.

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.