Caxton Associates LP Grows Holdings in CNX Resources Co. (NYSE:CNX)

Caxton Associates LP increased its stake in CNX Resources Co. (NYSE:CNX) by 46.5% in the second quarter, Holdings Channel reports. The institutional investor owned 43,854 shares of the oil and gas producer’s stock after acquiring an additional 13,914 shares during the quarter. Caxton Associates LP’s holdings in CNX Resources were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 666 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of CNX Resources by 113.4% during the 1st 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 in the last quarter. Natixis bought a new position in CNX Resources during the first quarter worth $79,000. Innealta Capital LLC acquired a new position in CNX Resources in the second quarter worth $131,000. Finally, TFO Wealth Partners LLC increased its stake in CNX Resources by 64,084.6% during the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock valued at $167,000 after purchasing an additional 8,331 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 1.1 %

Shares of CNX stock opened at $30.22 on Friday. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $32.26. The firm has a market capitalization of $4.63 billion, a PE ratio of 5.47 and a beta of 1.37. The stock has a fifty day moving average of $27.13 and a two-hundred day moving average of $25.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the prior year, the company posted $0.29 earnings per share. As a group, research analysts expect that CNX Resources Co. will post 1.44 EPS for the current year.

Insider Activity

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

CNX has been the subject of several research reports. 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 report on Thursday, September 12th. Truist Financial lifted their target price on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Scotiabank increased their price target on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Mizuho boosted their price objective on CNX Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.13.

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.