Gateway Investment Advisers LLC Purchases New Holdings in CNX Resources Co. (NYSE:CNX)

Gateway Investment Advisers LLC purchased a new stake in shares of CNX Resources Co. (NYSE:CNX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,749 shares of the oil and gas producer’s stock, valued at approximately $231,000.

Several other large investors have also recently bought and sold shares of CNX. LSV Asset Management boosted its position in CNX Resources by 223.4% during the fourth quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock valued at $29,787,000 after purchasing an additional 1,028,805 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in CNX Resources during the third quarter valued at approximately $19,018,000. AQR Capital Management LLC boosted its position in CNX Resources by 2,200.5% during the third quarter. AQR Capital Management LLC now owns 676,745 shares of the oil and gas producer’s stock valued at $15,281,000 after purchasing an additional 647,328 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in CNX Resources by 130.2% during the third quarter. Envestnet Asset Management Inc. now owns 496,495 shares of the oil and gas producer’s stock valued at $11,211,000 after purchasing an additional 280,849 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in CNX Resources by 11.2% during the third quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer’s stock valued at $48,641,000 after purchasing an additional 217,753 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Performance

NYSE:CNX opened at $24.05 on Thursday. The stock has a 50 day simple moving average of $24.49 and a 200 day simple moving average of $22.31. CNX Resources Co. has a 1-year low of $16.79 and a 1-year high of $26.57. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.68 billion, a P/E ratio of 4.36 and a beta of 1.34.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. The firm had revenue of $381.00 million for the quarter, compared to analyst estimates of $420.13 million. Research analysts anticipate that CNX Resources Co. will post 1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CNX shares. Piper Sandler raised their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Scotiabank raised their price objective on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. Mizuho raised their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Roth Mkm raised their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Truist Financial raised their price objective on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Hold” and an average target price of $25.00.

CNX Resources Company 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.