Inceptionr LLC Acquires New Stake in CNX Resources Co. (NYSE:CNX)

Inceptionr LLC bought a new position in CNX Resources Co. (NYSE:CNX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 48,744 shares of the oil and gas producer's stock, valued at approximately $1,787,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in CNX Resources in the fourth quarter worth about $14,268,000. Assetmark Inc. raised its stake in shares of CNX Resources by 2.2% in the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock worth $32,469,000 after buying an additional 19,309 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after buying an additional 139,647 shares during the period. Bailard Inc. raised its stake in shares of CNX Resources by 46.6% in the fourth quarter. Bailard Inc. now owns 19,500 shares of the oil and gas producer's stock worth $715,000 after buying an additional 6,200 shares during the period. Finally, Wakefield Asset Management LLLP bought a new position in shares of CNX Resources in the fourth quarter worth about $1,047,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen assumed coverage on CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. downgraded CNX Resources from a "neutral" rating to an "underweight" rating and raised their price objective for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Morgan Stanley assumed coverage on CNX Resources in a research note on Friday, January 10th. They set an "underweight" rating and a $29.00 target price on the stock. Roth Capital set a $30.00 target price on CNX Resources in a research note on Thursday, January 23rd. Finally, Truist Financial lifted their target price on CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Nine research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $29.69.

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CNX Resources Price Performance

NYSE CNX traded up $1.27 during trading on Friday, hitting $30.09. 3,017,666 shares of the stock traded hands, compared to its average volume of 3,714,479. The company has a market capitalization of $4.48 billion, a P/E ratio of -44.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The firm has a 50-day simple moving average of $30.22 and a 200-day simple moving average of $32.85. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12-month low of $21.00 and a 12-month high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 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%. As a group, analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.

Insider Transactions at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources 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 in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company's stock.

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.