BNP Paribas Financial Markets Grows Stake in CNX Resources Co. (NYSE:CNX)

BNP Paribas Financial Markets boosted its position in CNX Resources Co. (NYSE:CNXFree Report) by 231.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,361 shares of the oil and gas producer’s stock after purchasing an additional 72,914 shares during the period. BNP Paribas Financial Markets owned about 0.07% of CNX Resources worth $3,399,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position 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 worth $46,000 after buying an additional 666 shares in the last quarter. Blue Trust Inc. increased its position in CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC increased its position in CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 935 shares in the last quarter. Innealta Capital LLC purchased a new position in CNX Resources during the second quarter worth $131,000. Finally, Atomi Financial Group Inc. purchased a new position in CNX Resources during the third quarter worth $202,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CNX Resources

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 22.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNX shares. JPMorgan Chase & Co. downgraded CNX Resources from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $31.00 to $37.00 in a research report on Thursday. Truist Financial cut CNX Resources from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $38.00 to $34.00 in a report on Monday, October 28th. Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Scotiabank raised their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Seven research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, CNX Resources has a consensus rating of “Reduce” and an average target price of $29.60.

Get Our Latest Research Report on CNX Resources

CNX Resources Price Performance

Shares of CNX Resources stock opened at $38.20 on Friday. CNX Resources Co. has a twelve month low of $19.07 and a twelve month high of $41.93. The stock has a market capitalization of $5.70 billion, a P/E ratio of 12.01, a PEG ratio of 1.93 and a beta of 1.43. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $36.57 and its 200 day moving average price is $29.78.

CNX Resources (NYSE:CNXGet Free Report) last issued its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The firm had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that CNX Resources Co. will post 1.53 earnings per share for the current year.

CNX Resources Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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