CNX Resources Co. (NYSE:CNX) Shares Acquired by Bailard Inc.

Bailard Inc. increased its holdings in CNX Resources Co. (NYSE:CNX) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,500 shares of the oil and gas producer’s stock after acquiring an additional 6,200 shares during the quarter. Bailard Inc.’s holdings in CNX Resources were worth $715,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. increased its holdings in CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 691 shares during the last quarter. Blue Trust Inc. grew its position in shares of CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after acquiring an additional 1,280 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at approximately $121,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of CNX Resources during the 3rd quarter valued at approximately $205,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of CNX Resources during the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $28.59 on Tuesday. The company’s fifty day moving average is $30.78 and its two-hundred day moving average is $32.82. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12-month low of $21.00 and a 12-month high of $41.93. The company has a market cap of $4.26 billion, a P/E ratio of -42.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler dropped their price target on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley assumed coverage on shares of CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price on the stock. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $29.69.

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.