King Luther Capital Management Corp Has $5.04 Million Position in CNX Resources Co. (NYSE:CNX)

King Luther Capital Management Corp lessened its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 22.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,600 shares of the oil and gas producer's stock after selling 45,330 shares during the period. King Luther Capital Management Corp owned about 0.10% of CNX Resources worth $5,035,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CNX. Mizuho Markets Americas LLC acquired a new stake in shares of CNX Resources in the second quarter valued at approximately $97,200,000. American Century Companies Inc. grew its holdings in shares of CNX Resources by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer's stock valued at $89,890,000 after acquiring an additional 397,729 shares in the last quarter. LSV Asset Management increased its position in shares of CNX Resources by 1.4% in the second quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer's stock valued at $43,276,000 after acquiring an additional 23,800 shares during the last quarter. Tributary Capital Management LLC raised its holdings in CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer's stock worth $21,917,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in CNX Resources by 311.0% during 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 purchasing an additional 466,694 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Price Performance

NYSE:CNX traded up $0.45 during trading hours on Friday, reaching $41.09. 1,525,075 shares of the company were exchanged, compared to its average volume of 2,696,378. The company has a market capitalization of $6.13 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The business has a 50 day moving average of $35.00 and a 200 day moving average of $28.85. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $41.17.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Research analysts forecast that CNX Resources Co. will post 1.53 EPS for the current year.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares of the company's stock, valued at $10,772,794.20. This represents a 22.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Bank of America assumed coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an "underperform" rating and a $34.00 price target on the stock. Stephens lifted their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Truist Financial cut shares of CNX Resources from a "buy" rating to a "hold" rating and dropped their target price for the company from $38.00 to $34.00 in a report on Monday, October 28th. Finally, Capital One Financial cut CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 price target for the company. in a report on Monday, October 14th. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $29.00.

CNX Resources 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.