Intech Investment Management LLC Increases Stake in CNX Resources Co. (NYSE:CNX)

Intech Investment Management LLC grew its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 200.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,307 shares of the oil and gas producer's stock after acquiring an additional 129,605 shares during the period. Intech Investment Management LLC owned about 0.13% of CNX Resources worth $7,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. grew its holdings in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after purchasing an additional 691 shares during the period. Blue Trust Inc. increased its holdings in 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 acquiring an additional 1,280 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in CNX Resources during the 4th quarter worth approximately $121,000. Oppenheimer Asset Management Inc. purchased a new position in CNX Resources during the third quarter valued at approximately $205,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of CNX Resources in the third quarter worth approximately $209,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CNX. TD Cowen initiated coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price on the stock. Mizuho lowered their price objective on CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. Roth Capital set a $30.00 price objective on CNX Resources in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Finally, StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $30.38.

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Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by corporate insiders.

CNX Resources Price Performance

CNX stock traded down $0.24 during trading on Friday, hitting $31.79. 2,789,663 shares of the company's stock traded hands, compared to its average volume of 2,618,502. The business has a fifty day simple moving average of $29.71 and a 200 day simple moving average of $33.09. CNX Resources Co. has a 52 week low of $22.80 and a 52 week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of -46.75, a P/E/G ratio of 0.42 and a beta of 1.26.

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%. As a group, research analysts expect that CNX Resources Co. will post 2.18 EPS 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.