CNX Resources Co. (NYSE:CNX) Stock Holdings Boosted by KBC Group NV

KBC Group NV grew its position in shares of CNX Resources Co. (NYSE:CNX) by 41.0% during the 4th quarter, Holdings Channel reports. The firm owned 6,216 shares of the oil and gas producer’s stock after purchasing an additional 1,806 shares during the period. KBC Group NV’s holdings in CNX Resources were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CNX. Connor Clark & Lunn Investment Management Ltd. grew its holdings in CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after acquiring an additional 466,694 shares during the period. Empirical Asset Management LLC acquired a new position in shares of CNX Resources in the 4th quarter worth approximately $9,281,000. Charles Schwab Investment Management Inc. raised its holdings in shares of CNX Resources by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after purchasing an additional 202,890 shares in the last quarter. Riverwater Partners LLC lifted its stake in CNX Resources by 124.2% during the third quarter. Riverwater Partners LLC now owns 146,363 shares of the oil and gas producer’s stock valued at $4,839,000 after purchasing an additional 81,092 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in CNX Resources by 231.9% during the third quarter. BNP Paribas Financial Markets now owns 104,361 shares of the oil and gas producer’s stock worth $3,399,000 after buying an additional 72,914 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

CNX has been the subject of a number of recent research reports. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research report on Monday, October 14th. StockNews.com raised CNX Resources from a “sell” rating to a “hold” rating in a report on Monday. Stephens lifted 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. Mizuho reduced their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on shares of CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price on the stock. Eight analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $29.67.

CNX Resources Trading Up 3.1 %

Shares of NYSE:CNX opened at $28.46 on Wednesday. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.25 billion, a P/E ratio of -41.84, a price-to-earnings-growth ratio of 0.36 and a beta of 1.38. The firm has a fifty day moving average of $33.85 and a two-hundred day moving average of $32.27.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, equities analysts expect that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.65% of the stock is currently owned by company insiders.

CNX Resources 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.