Xponance Inc. Sells 1,693 Shares of CNX Resources Co. (NYSE:CNX)

Xponance Inc. trimmed its stake in shares of CNX Resources Co. (NYSE:CNX) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,521 shares of the oil and gas producer’s stock after selling 1,693 shares during the quarter. Xponance Inc.’s holdings in CNX Resources were worth $499,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mizuho Markets Americas LLC purchased a new position in CNX Resources during the 2nd quarter valued at about $97,200,000. American Century Companies Inc. boosted its position in shares of CNX Resources by 12.0% in the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock valued at $89,890,000 after acquiring an additional 397,729 shares during the period. Renaissance Technologies LLC grew its stake in CNX Resources by 197.0% during the second quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock valued at $11,324,000 after acquiring an additional 309,100 shares in the last quarter. LSV Asset Management increased its holdings in CNX Resources by 18.0% during the 1st quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock worth $41,679,000 after acquiring an additional 267,768 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in CNX Resources by 533.4% in the 1st quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock valued at $6,795,000 after purchasing an additional 241,250 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CNX. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. Mizuho upped their target price on CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Truist Financial raised their price target on CNX Resources from $31.00 to $38.00 and gave the company a “buy” rating in a report on Monday. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.00.

Insider Activity

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

CNX Resources Stock Performance

NYSE:CNX opened at $32.57 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $32.75. The firm has a market cap of $4.99 billion, a PE ratio of 5.90 and a beta of 1.37. The business has a 50 day moving average price of $27.38 and a 200-day moving average price of $25.43.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The business had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts predict that CNX Resources Co. will post 1.44 earnings per share for the current year.

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.