ExodusPoint Capital Management LP Purchases New Position in CNX Resources Co. (NYSE:CNX)

ExodusPoint Capital Management LP purchased a new stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 220,119 shares of the oil and gas producer's stock, valued at approximately $8,072,000. ExodusPoint Capital Management LP owned approximately 0.15% of CNX Resources as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in shares of CNX Resources in the 4th quarter worth approximately $39,000. VSM Wealth Advisory LLC bought a new position in CNX Resources in the fourth quarter worth approximately $55,000. Principal Securities Inc. boosted its stake in shares of CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 691 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after purchasing an additional 1,280 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in CNX Resources in the 4th quarter worth $121,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CNX. JPMorgan Chase & Co. upped their price target on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th. Roth Capital set a $30.00 target price on shares of CNX Resources in a research note on Thursday, January 23rd. Piper Sandler dropped their price target 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. Mizuho raised their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a research report on Monday. Finally, Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, CNX Resources has a consensus rating of "Reduce" and an average target price of $30.92.

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CNX Resources Trading Down 3.1 %

CNX Resources stock traded down $0.90 during midday trading on Thursday, reaching $28.45. The stock had a trading volume of 739,183 shares, compared to its average volume of 2,663,313. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -41.90, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a 52-week low of $22.82 and a 52-week high of $41.93. The company has a fifty day moving average of $30.13 and a 200 day moving average of $33.29.

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 analysts' consensus estimates 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%. On average, analysts anticipate that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

About CNX Resources

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.