Intech Investment Management LLC Boosts Stock Position in CNX Resources Co. (NYSE:CNX)

Intech Investment Management LLC increased its holdings in CNX Resources Co. (NYSE:CNX) by 200.3% during the 4th quarter, Holdings Channel reports. The firm owned 194,307 shares of the oil and gas producer’s stock after buying an additional 129,605 shares during the period. Intech Investment Management LLC’s holdings in CNX Resources were worth $7,125,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC grew its position in shares of CNX Resources by 149.6% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 19,637 shares of the oil and gas producer’s stock worth $720,000 after buying an additional 11,770 shares during the last quarter. Corient Private Wealth LLC lifted its stake in CNX Resources by 16.8% in the fourth quarter. Corient Private Wealth LLC now owns 51,946 shares of the oil and gas producer’s stock worth $1,903,000 after acquiring an additional 7,464 shares during the period. Midwest Professional Planners LTD. boosted its holdings in CNX Resources by 8.0% in the fourth quarter. Midwest Professional Planners LTD. now owns 26,361 shares of the oil and gas producer’s stock valued at $967,000 after acquiring an additional 1,962 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in CNX Resources by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer’s stock valued at $22,827,000 after purchasing an additional 5,769 shares during the period. Finally, HighTower Advisors LLC raised its holdings in CNX Resources by 6.9% in the 4th quarter. HighTower Advisors LLC now owns 29,168 shares of the oil and gas producer’s stock worth $1,070,000 after purchasing an additional 1,879 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’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 completion of the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of research reports. Piper Sandler cut their target price on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 29th. Truist Financial lifted their price objective on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Mizuho decreased their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. Nine equities research 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, the stock has a consensus rating of “Hold” and an average price target of $30.38.

CNX Resources Price Performance

CNX opened at $31.79 on Wednesday. CNX Resources Co. has a 1 year low of $21.07 and a 1 year high of $41.93. The stock has a 50-day moving average price of $29.64 and a 200-day moving average price of $33.04. The firm has a market cap of $4.73 billion, a PE ratio of -46.74, a P/E/G ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current fiscal 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.