Empowered Funds LLC Buys 162,247 Shares of CNX Resources Co. (NYSE:CNX)

Empowered Funds LLC boosted its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 328.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,719 shares of the oil and gas producer's stock after purchasing an additional 162,247 shares during the quarter. Empowered Funds LLC owned about 0.14% of CNX Resources worth $7,764,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of CNX Resources by 12.2% in the third 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 acquiring an additional 202,890 shares during the period. World Investment Advisors LLC bought a new stake in shares of CNX Resources in the third quarter valued at about $534,000. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 valued at $20,087,000 after acquiring an additional 466,694 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of CNX Resources by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer's stock valued at $428,000 after acquiring an additional 442 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of CNX Resources by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer's stock valued at $575,000 after acquiring an additional 1,190 shares during the period. 95.16% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company'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 completion of the transaction, the insider now owns 13,925,000 shares of the company's stock, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.

CNX Resources Price Performance

NYSE CNX traded down $0.21 during trading on Friday, hitting $30.28. 2,405,007 shares of the company's stock were exchanged, compared to its average volume of 4,122,994. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.52 billion, a PE ratio of -44.53, a P/E/G ratio of 0.39 and a beta of 1.38. CNX Resources Co. has a fifty-two week low of $19.33 and a fifty-two week high of $41.93. The stock's 50 day moving average price is $32.34 and its two-hundred day moving average price is $32.42.

CNX Resources (NYSE:CNX - Get Free Report) last issued its 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%. Research analysts expect that CNX Resources Co. will post 2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNX. Morgan Stanley began coverage on shares of CNX Resources in a research report on Friday, January 10th. They issued an "underweight" rating and a $29.00 target price for the company. Truist Financial boosted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research report on Friday, December 6th. StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday. JPMorgan Chase & Co. cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and upped their price objective for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Finally, 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 research report on Wednesday, January 29th. Nine investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $29.67.

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.