Jennison Associates LLC acquired a new stake in CNX Resources Co. (NYSE:CNX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,340 shares of the oil and gas producer's stock, valued at approximately $636,000.
Several other large investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of CNX Resources by 12.2% in the third 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 acquiring an additional 202,890 shares during the last quarter. World Investment Advisors LLC bought a new position in CNX Resources in the 3rd quarter valued at approximately $534,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in CNX Resources by 311.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock valued at $20,087,000 after buying an additional 466,694 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer's stock worth $428,000 after buying an additional 442 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of CNX Resources by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer's stock valued at $575,000 after acquiring an additional 1,190 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.
CNX Resources Stock Down 2.6 %
Shares of CNX traded down $0.79 during trading hours on Tuesday, reaching $29.85. 4,442,393 shares of the stock traded hands, compared to its average volume of 4,287,918. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $32.80 and a 200 day simple moving average of $32.42. The company has a market cap of $4.46 billion, a price-to-earnings ratio of -43.89, a PEG ratio of 0.39 and a beta of 1.38.
CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate 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, equities analysts forecast that CNX Resources Co. will post 2.36 EPS for the current year.
Insider Transactions at CNX Resources
In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CNX. Bank of America assumed coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an "underperform" rating and a $34.00 price objective for the company. Piper Sandler reduced their price target on CNX Resources from $23.00 to $22.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 29th. Truist Financial lifted their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Capital One Financial downgraded shares of CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 target price for the company. in a research report on Monday, October 14th. Finally, Stephens boosted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $29.67.
Get Our Latest Analysis on CNX
About CNX Resources
(
Free Report)
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.
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