Empirical Asset Management LLC Invests $9.28 Million in CNX Resources Co. (NYSE:CNX)

Empirical Asset Management LLC bought a new position in shares of CNX Resources Co. (NYSE:CNX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 253,105 shares of the oil and gas producer's stock, valued at approximately $9,281,000. Empirical Asset Management LLC owned approximately 0.17% of CNX Resources at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CNX. Blue Trust Inc. increased its stake in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock worth $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC grew its holdings in shares of CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC grew its stake in CNX Resources by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock worth $100,000 after buying an additional 1,177 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter worth about $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.65% of the stock is owned by corporate insiders.

CNX Resources Stock Performance

Shares of NYSE:CNX traded down $0.49 on Friday, hitting $30.14. 2,384,745 shares of the company were exchanged, compared to its average volume of 5,022,125. The company's 50 day moving average price is $36.69 and its two-hundred day moving average price is $31.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.09 and a beta of 1.42. CNX Resources Co. has a one year low of $19.07 and a one year high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter in the prior year, the business posted $0.35 earnings per share. Research analysts expect that CNX Resources Co. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CNX shares. Piper Sandler increased their target price on shares of CNX Resources from $20.00 to $23.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Tudor, Pickering, Holt & Co. cut CNX Resources from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Mizuho reduced their price objective on CNX Resources from $38.00 to $34.00 and set an "underperform" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and boosted their price target for the company from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, BMO Capital Markets upped their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. Nine analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $29.75.

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.