Hexagon Capital Partners LLC Boosts Stock Position in CNX Resources Co. (NYSE:CNX)

Hexagon Capital Partners LLC raised its holdings in CNX Resources Co. (NYSE:CNX) by 113.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,138 shares of the oil and gas producer’s stock after purchasing an additional 1,136 shares during the period. Hexagon Capital Partners LLC’s holdings in CNX Resources were worth $51,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Congress Asset Management Co. MA raised its holdings in CNX Resources by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock valued at $5,311,000 after acquiring an additional 945 shares in the last quarter. M&T Bank Corp lifted its position in shares of CNX Resources by 10.5% during the fourth quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock worth $214,000 after purchasing an additional 1,014 shares during the last quarter. Neo Ivy Capital Management acquired a new position in CNX Resources in the third quarter worth about $26,000. Wedge Capital Management L L P NC grew its stake in CNX Resources by 0.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 290,261 shares of the oil and gas producer’s stock worth $5,805,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in CNX Resources by 12.4% in the fourth quarter. Advisory Services Network LLC now owns 13,780 shares of the oil and gas producer’s stock valued at $276,000 after buying an additional 1,518 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Trading Down 1.2 %

Shares of NYSE:CNX opened at $24.02 on Tuesday. CNX Resources Co. has a fifty-two week low of $17.27 and a fifty-two week high of $26.57. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The company has a market cap of $3.68 billion, a PE ratio of 4.35 and a beta of 1.38. The company’s 50-day moving average price is $24.50 and its 200 day moving average price is $22.42.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $381.00 million during the quarter, compared to analyst estimates of $420.13 million. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. Sell-side analysts anticipate that CNX Resources Co. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of research analyst reports. Truist Financial increased their target price on CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Piper Sandler lifted their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Mizuho increased their target price on shares of CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Roth Mkm raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Scotiabank boosted their price objective on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

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.