iSAM Funds UK Ltd Makes New Investment in CNX Resources Co. (NYSE:CNX)

iSAM Funds UK Ltd bought a new position in CNX Resources Co. (NYSE:CNX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,318 shares of the oil and gas producer's stock, valued at approximately $564,000.

Several other hedge funds have also recently made changes to their positions in CNX. Bridges Investment Management Inc. purchased a new stake in shares of CNX Resources during the second quarter worth $916,000. Charles Schwab Investment Management Inc. lifted its holdings in CNX Resources by 12.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer's stock worth $60,607,000 after purchasing an additional 202,890 shares in the last quarter. Paralel Advisors LLC bought a new position in CNX Resources in the 2nd quarter worth about $2,338,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in CNX Resources by 311.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock worth $20,087,000 after purchasing an additional 466,694 shares during the period. Finally, Choreo LLC purchased a new position in CNX Resources during the 2nd quarter valued at about $701,000. 95.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CNX. BMO Capital Markets raised their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a research report on Friday, October 4th. JPMorgan Chase & Co. cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and upped their price target for the stock from $31.00 to $37.00 in a report on Thursday. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Tudor Pickering upgraded CNX Resources to a "strong sell" rating in a research note on Tuesday, October 1st. Finally, Truist Financial lifted their price target on CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research report on Friday. Seven research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $30.00.

Insider Activity

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business's stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares of the company's stock, valued at approximately $10,772,794.20. This trade represents a 22.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company's stock.

CNX Resources Price Performance

NYSE:CNX traded down $1.36 during mid-day trading on Friday, reaching $36.82. The stock had a trading volume of 2,894,990 shares, compared to its average volume of 1,923,707. CNX Resources Co. has a one year low of $19.07 and a one year high of $41.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The firm has a 50 day moving average price of $36.83 and a two-hundred day moving average price of $29.96. The stock has a market capitalization of $5.50 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $424.21 million during the quarter, compared to analysts' expectations of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, analysts expect that CNX Resources Co. will post 1.53 earnings per share for the current 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.