Tower Research Capital LLC TRC Boosts Stake in CNX Resources Co. (NYSE:CNX)

Tower Research Capital LLC TRC boosted its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 254.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,105 shares of the oil and gas producer's stock after acquiring an additional 18,733 shares during the period. Tower Research Capital LLC TRC's holdings in CNX Resources were worth $957,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new stake in shares of CNX Resources in the 3rd quarter valued at $534,000. CWA Asset Management Group LLC acquired a new stake in CNX Resources in the 4th quarter valued at $241,000. Empirical Asset Management LLC acquired a new stake in CNX Resources in the 4th quarter valued at $9,281,000. Blue Trust Inc. grew its position in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after purchasing an additional 1,280 shares during the period. Finally, KBC Group NV grew its position in CNX Resources by 41.0% in the 4th quarter. KBC Group NV now owns 6,216 shares of the oil and gas producer's stock valued at $228,000 after purchasing an additional 1,806 shares during the period. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Price Performance

Shares of NYSE CNX traded up $0.17 during trading hours on Tuesday, reaching $29.53. 2,110,687 shares of the stock traded hands, compared to its average volume of 2,673,238. The company has a market capitalization of $4.35 billion, a P/E ratio of -43.42, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The company's 50-day simple moving average is $30.25 and its two-hundred day simple moving average is $33.02. 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 52-week low of $22.82 and a 52-week high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating analysts' consensus estimates 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%. Equities research analysts forecast that CNX Resources Co. will post 2.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNX. Roth Capital set a $30.00 price target on shares of CNX Resources in a research report on Thursday, January 23rd. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Piper Sandler reduced their price objective on CNX Resources from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday, March 13th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a report on Tuesday, April 15th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $31.17.

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.