29,204 Shares in CNX Resources Co. (NYSE:CNX) Acquired by Choreo LLC

Choreo LLC bought a new stake in shares of CNX Resources Co. (NYSE:CNX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,204 shares of the oil and gas producer’s stock, valued at approximately $701,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,136 shares during the last quarter. First Eagle Investment Management LLC acquired a new stake in CNX Resources during the 4th quarter worth about $55,000. Natixis acquired a new stake in CNX Resources during the 1st quarter worth about $79,000. Finally, Innealta Capital LLC bought a new position in shares of CNX Resources in the 2nd quarter worth about $131,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

CNX Resources Stock Up 1.1 %

CNX Resources stock opened at $27.35 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $26.35 and its two-hundred day moving average price is $24.67. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 4.95 and a beta of 1.37. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $28.23.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Stephens reaffirmed an “equal weight” rating and set a $27.00 price objective on shares of CNX Resources in a research report on Monday, July 15th. Truist Financial boosted their target price on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Scotiabank raised their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Piper Sandler lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.75.

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.