CNX Resources Co. (NYSE:CNX) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC raised its position in CNX Resources Co. (NYSE:CNX) by 6.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,168 shares of the oil and gas producer’s stock after acquiring an additional 1,879 shares during the quarter. HighTower Advisors LLC’s holdings in CNX Resources were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CNX. Raymond James Financial Inc. acquired a new stake in CNX Resources in the 4th quarter valued at approximately $14,268,000. Empirical Asset Management LLC acquired a new position in shares of CNX Resources during the fourth quarter valued at $9,281,000. Charles Schwab Investment Management Inc. raised its stake in shares of CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after purchasing an additional 202,890 shares in the last quarter. Empowered Funds LLC lifted its holdings in CNX Resources by 328.0% in the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock worth $7,764,000 after purchasing an additional 162,247 shares during the period. Finally, Entropy Technologies LP grew its position in CNX Resources by 493.9% in the 4th quarter. Entropy Technologies LP now owns 94,657 shares of the oil and gas producer’s stock valued at $3,471,000 after buying an additional 78,719 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho reduced their price target 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. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. TD Cowen began coverage on CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target on the stock. Piper Sandler cut their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial lifted their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Nine analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, CNX Resources has an average rating of “Hold” and a consensus target price of $30.69.

CNX Resources Price Performance

NYSE CNX opened at $31.76 on Thursday. CNX Resources Co. has a 1 year low of $22.81 and a 1 year high of $41.93. The stock’s 50-day moving average price is $29.79 and its two-hundred day moving average price is $33.19. The company has a market cap of $4.73 billion, a PE ratio of -46.70, a PEG ratio of 0.42 and a beta of 1.26. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.

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.