Bernard Lanigan, Jr. Purchases 75,000 Shares of CNX Resources Co. (NYSE:CNX) Stock

CNX Resources Co. (NYSE:CNX) Director Bernard Lanigan, Jr. acquired 75,000 shares of the stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

CNX Resources Trading Up 0.1 %

Shares of CNX stock opened at $27.06 on Friday. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $28.23. The stock’s fifty day moving average price is $26.30 and its two-hundred day moving average price is $24.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The company has a market cap of $4.15 billion, a PE ratio of 4.90 and a beta of 1.37.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period last year, the firm posted $0.29 earnings per share. Equities analysts predict that CNX Resources Co. will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Piper Sandler lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens restated an “equal weight” rating and set a $27.00 price objective on shares of CNX Resources in a research note on Monday, July 15th. Finally, StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Three 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.75.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Pullen Investment Management LLC increased its holdings in shares of CNX Resources by 2.3% during the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after buying an additional 623 shares in the last quarter. GAMMA Investing LLC grew its position in CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 666 shares during the last quarter. Riverwater Partners LLC increased its holdings in CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock worth $1,558,000 after purchasing an additional 676 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in CNX Resources by 3.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after purchasing an additional 941 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in shares of CNX Resources by 0.4% during the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock valued at $5,311,000 after purchasing an additional 945 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.