Charles Schwab Investment Management Inc. Buys 202,890 Shares of CNX Resources Co. (NYSE:CNX)

Charles Schwab Investment Management Inc. lifted its position in shares of CNX Resources Co. (NYSE:CNX) by 12.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,860,817 shares of the oil and gas producer’s stock after purchasing an additional 202,890 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CNX Resources were worth $60,607,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. 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 buying an additional 666 shares during the period. Blue Trust Inc. grew its holdings in CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,131 shares during the period. CWM LLC increased its stake in shares of CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of CNX Resources during the second quarter valued at approximately $131,000. Finally, Atomi Financial Group Inc. bought a new position in shares of CNX Resources during the third quarter valued at $202,000. 95.16% of the stock is owned by institutional investors.

CNX Resources Price Performance

NYSE:CNX opened at $40.52 on Friday. The business’s 50-day moving average is $35.92 and its 200 day moving average is $29.32. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $41.93. The company has a market capitalization of $6.05 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.95 and a beta of 1.37. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities research analysts forecast that CNX Resources Co. will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 22.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on CNX. Mizuho lifted their target price on CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Scotiabank raised their target price 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. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Truist Financial lowered CNX Resources from a “buy” rating to a “hold” rating and cut their price target for the company from $38.00 to $34.00 in a report on Monday, October 28th. Finally, Stephens increased their price target on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, CNX Resources presently has an average rating of “Hold” and a consensus target price of $29.00.

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.