AQR Capital Management LLC Has $7.40 Million Stake in CNX Resources Co. (NYSE:CNX)

AQR Capital Management LLC lowered its stake in CNX Resources Co. (NYSE:CNX) by 32.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 304,499 shares of the oil and gas producer’s stock after selling 144,774 shares during the quarter. AQR Capital Management LLC’s holdings in CNX Resources were worth $7,399,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CNX. GAMMA Investing LLC lifted its holdings in 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 worth $46,000 after purchasing an additional 666 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of CNX Resources by 113.4% in 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 purchasing an additional 1,136 shares during the period. Natixis acquired a new stake in shares of CNX Resources in the first quarter worth $79,000. Innealta Capital LLC bought a new stake in shares of CNX Resources during the 2nd quarter worth $131,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in CNX Resources in the 2nd quarter valued at $205,000. Institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho upped their price target on shares of CNX Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, September 16th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Truist Financial upped their price target on CNX Resources from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Monday. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research note on Tuesday. Finally, Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Five investment 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. According to MarketBeat, CNX Resources has a consensus rating of “Hold” and an average target price of $27.00.

CNX Resources Price Performance

NYSE:CNX opened at $34.00 on Friday. 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 50-day moving average of $27.69 and a 200-day moving average of $25.57. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $34.03. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 6.16 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 analysts’ consensus estimates of $0.27 by $0.09. The company had revenue of $321.44 million for 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 period in the previous year, the business earned $0.29 earnings per share. As a group, equities research analysts anticipate that CNX Resources Co. will post 1.44 earnings per share for the current fiscal year.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now 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 through this link. Company insiders own 3.10% of the company’s stock.

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.