Entropy Technologies LP Raises Stock Position in CNX Resources Co. (NYSE:CNX)

Entropy Technologies LP raised its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 493.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,657 shares of the oil and gas producer's stock after purchasing an additional 78,719 shares during the period. Entropy Technologies LP owned approximately 0.06% of CNX Resources worth $3,471,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CNX. Creative Planning raised its holdings in shares of CNX Resources by 9.8% during the 2nd quarter. Creative Planning now owns 31,265 shares of the oil and gas producer's stock valued at $760,000 after buying an additional 2,779 shares in the last quarter. GAMMA Investing LLC grew its position in CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock valued at $100,000 after acquiring an additional 1,177 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in shares of CNX Resources during the third quarter worth approximately $202,000. CWM LLC lifted its holdings 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 worth $70,000 after acquiring an additional 935 shares during the last quarter. Finally, CHICAGO TRUST Co NA purchased a new stake in shares of CNX Resources in the 3rd quarter valued at $233,000. Institutional investors own 95.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNX. Bank of America started coverage on CNX Resources in a research report on Monday, October 28th. They issued an "underperform" rating and a $34.00 price objective for the company. JPMorgan Chase & Co. cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and boosted their price objective for the company from $31.00 to $37.00 in a research report on Thursday, December 5th. Mizuho dropped their target price on shares of CNX Resources from $38.00 to $34.00 and set an "underperform" rating for the company in a report on Tuesday, January 14th. Stephens boosted their price target on CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Finally, Piper Sandler dropped their price objective on CNX Resources from $23.00 to $22.00 and set an "underweight" rating for the company in a report on Wednesday, January 29th. Eight research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $29.67.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction 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 sale, the insider now directly owns 13,925,000 shares of the company's stock, valued at approximately $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company's stock.

CNX Resources Stock Up 0.1 %

CNX stock traded up $0.03 during midday trading on Wednesday, hitting $29.85. The stock had a trading volume of 2,551,121 shares, compared to its average volume of 4,225,890. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -43.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.38. The business has a 50-day moving average of $32.63 and a two-hundred day moving average of $32.41. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, equities research analysts forecast that CNX Resources Co. will post 2.36 earnings per share for the current fiscal year.

CNX Resources Company 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.