Pittenger & Anderson Inc. Increases Position in CNX Resources Co. (NYSE:CNX)

Pittenger & Anderson Inc. boosted its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 488.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,095 shares of the oil and gas producer's stock after purchasing an additional 20,830 shares during the quarter. Pittenger & Anderson Inc.'s holdings in CNX Resources were worth $817,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock valued at $46,000 after buying an additional 666 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock valued at $64,000 after acquiring an additional 1,131 shares during the last quarter. CWM LLC raised its position in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after acquiring an additional 935 shares in the last quarter. Natixis purchased a new stake in CNX Resources during the first quarter worth approximately $79,000. Finally, Innealta Capital LLC acquired a new position in CNX Resources in the second quarter valued at approximately $131,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. Piper Sandler cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Bank of America started coverage on CNX Resources in a research report on Monday, October 28th. They set an "underperform" rating and a $34.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on CNX Resources from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, CNX Resources presently has a consensus rating of "Hold" and an average price target of $29.00.

CNX Resources Stock Performance

CNX Resources stock traded up $1.73 during mid-day trading on Wednesday, reaching $37.09. 4,530,266 shares of the company were exchanged, compared to its average volume of 2,722,300. The firm has a market cap of $5.54 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. 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's 50-day simple moving average is $31.95 and its two-hundred day simple moving average is $27.52. CNX Resources Co. has a twelve month low of $19.07 and a twelve month high of $37.57.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same period last year, the firm posted $0.35 EPS. Equities analysts predict that CNX Resources Co. will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.65% of the company's stock.

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.