Paralel Advisors LLC Increases Holdings in CNX Resources Co. (NYSE:CNX)

Paralel Advisors LLC grew its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 105,849 shares of the oil and gas producer's stock after acquiring an additional 9,616 shares during the period. CNX Resources comprises 0.2% of Paralel Advisors LLC's holdings, making the stock its 28th largest holding. Paralel Advisors LLC owned about 0.07% of CNX Resources worth $3,881,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Bessemer Group Inc. increased its stake in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in CNX Resources during the 4th quarter worth approximately $39,000. VSM Wealth Advisory LLC bought a new position in CNX Resources in the fourth quarter worth approximately $55,000. Principal Securities Inc. grew its stake in CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after acquiring an additional 1,280 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

NYSE CNX traded up $0.08 during trading hours on Tuesday, reaching $30.75. 408,341 shares of the company were exchanged, compared to its average volume of 3,184,520. The stock has a market capitalization of $4.53 billion, a P/E ratio of -45.22, a P/E/G ratio of 0.42 and a beta of 1.33. 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 1 year low of $22.82 and a 1 year high of $41.93. The business's 50 day simple moving average is $30.23 and its 200-day simple moving average is $33.29.

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CNX Resources (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) 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 research analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CNX. Mizuho lifted their price target on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a research report on Monday, April 7th. TD Cowen started coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price for the company. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. Morgan Stanley reissued an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a report on Tuesday. Finally, Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a research report on Friday. Eight investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $31.25.

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.