Quantbot Technologies LP bought a new stake in CNX Resources Co. (NYSE:CNX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 73,841 shares of the oil and gas producer's stock, valued at approximately $2,708,000.
Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of CNX Resources in the 4th quarter valued at approximately $14,268,000. Empirical Asset Management LLC acquired a new position in CNX Resources during the fourth quarter worth $9,281,000. Charles Schwab Investment Management Inc. raised its position in 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 in the last quarter. Empowered Funds LLC lifted its holdings in CNX Resources by 328.0% in the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer's stock valued at $7,764,000 after acquiring an additional 162,247 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of CNX Resources by 200.3% during the 4th quarter. Intech Investment Management LLC now owns 194,307 shares of the oil and gas producer's stock worth $7,125,000 after purchasing an additional 129,605 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.
CNX Resources Trading Down 0.7 %
Shares of NYSE CNX traded down $0.21 during trading on Thursday, hitting $31.58. 1,136,966 shares of the company traded hands, compared to its average volume of 2,605,476. The firm has a market capitalization of $4.70 billion, a P/E ratio of -46.44, a P/E/G ratio of 0.42 and a beta of 1.26. 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 $22.81 and a 1 year high of $41.93. The company has a 50-day moving average price of $29.79 and a 200-day moving average price of $33.19.
CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results 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 negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.
Insider Buying and Selling at CNX Resources
In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages recently commented on CNX. Morgan Stanley set a $33.00 price objective on shares of CNX Resources and gave the company an "underweight" rating in a research note on Wednesday. Roth Capital set a $30.00 price target on CNX Resources in a report on Thursday, January 23rd. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Finally, Stephens upgraded 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. Nine investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, CNX Resources has an average rating of "Hold" and a consensus target price of $30.69.
Read Our Latest Stock Report 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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