Bridges Investment Management Inc. acquired a new stake in shares of CNX Resources Co. (NYSE:CNX – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund acquired 37,713 shares of the oil and gas producer’s stock, valued at approximately $916,000.
Several other institutional investors have also modified their holdings of CNX. Parkwood LLC boosted its holdings in CNX Resources by 11.2% in the 4th quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock worth $9,809,000 after buying an additional 49,278 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of CNX Resources by 13.8% in the second quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock worth $4,629,000 after acquiring an additional 23,069 shares during the last quarter. Duality Advisers LP increased its position in shares of CNX Resources by 61.1% during the first quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock worth $3,112,000 after purchasing an additional 49,741 shares in the last quarter. Boston Partners acquired a new position in CNX Resources in the 1st quarter valued at $951,000. Finally, Moloney Securities Asset Management LLC purchased a new position in CNX Resources in the 1st quarter valued at $986,000. Institutional investors and hedge funds own 95.16% of the company’s stock.
Insider Buying and Selling at CNX Resources
In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on CNX
CNX Resources Stock Up 6.1 %
CNX stock opened at $31.87 on Friday. The firm has a market cap of $4.88 billion, a PE ratio of 5.73 and a beta of 1.37. CNX Resources Co. has a one year low of $19.07 and a one year high of $31.89. 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 firm’s 50 day moving average price is $26.63 and its 200-day moving average price is $24.89.
CNX Resources (NYSE:CNX – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the prior year, the company posted $0.29 EPS. On average, equities research analysts anticipate that CNX Resources Co. will post 1.47 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.
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