Entropy Technologies LP Acquires Shares of 15,938 CNX Resources Co. (NYSE:CNX)

Entropy Technologies LP bought a new stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,938 shares of the oil and gas producer's stock, valued at approximately $519,000.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of CNX Resources by 54.1% in 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. 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 acquiring an additional 1,131 shares during the last quarter. CWM LLC increased its stake in shares of CNX Resources by 77.0% in the third 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. Natixis acquired a new position in shares of CNX Resources in the first quarter worth $79,000. Finally, Innealta Capital LLC acquired a new position in shares of CNX Resources in the second quarter worth $131,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Performance

CNX stock traded down $0.25 during mid-day trading on Friday, reaching $38.19. 1,417,916 shares of the stock traded hands, compared to its average volume of 2,719,235. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $40.08. The business has a 50-day moving average of $33.69 and a two-hundred day moving average of $28.27. The firm has a market capitalization of $5.70 billion, a PE ratio of 12.01, a P/E/G ratio of 1.87 and a beta of 1.37.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million during the quarter, compared to analysts' expectations of $398.33 million. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, equities analysts predict that CNX Resources Co. will post 1.53 EPS for the current fiscal year.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 22.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CNX. JPMorgan Chase & Co. lowered their target price on shares of CNX Resources from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Tudor Pickering raised shares of CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. Capital One Financial downgraded shares of CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 target price on the stock. in a research report on Monday, October 14th. BMO Capital Markets increased their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a research report on Friday, October 4th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, CNX Resources presently has a consensus rating of "Hold" and a consensus price target of $29.00.

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.