Blue Trust Inc. Increases Position in CNX Resources Co. (NYSE:CNX)

Blue Trust Inc. raised its position in CNX Resources Co. (NYSE:CNX) by 65.1% during the 4th quarter, Holdings Channel reports. The firm owned 3,246 shares of the oil and gas producer’s stock after acquiring an additional 1,280 shares during the quarter. Blue Trust Inc.’s holdings in CNX Resources were worth $119,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of CNX Resources by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 1,177 shares during the period. Atomi Financial Group Inc. acquired a new position in shares of CNX Resources during the 3rd quarter valued at $202,000. Oppenheimer Asset Management Inc. acquired a new position in shares of CNX Resources during the third quarter worth about $205,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in CNX Resources during the 3rd quarter worth approximately $209,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. lowered CNX Resources from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Morgan Stanley began coverage on CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target for the company. Stephens lifted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $29.67.

CNX Resources Trading Up 0.5 %

CNX Resources stock opened at $29.13 on Friday. The firm has a 50-day moving average price of $33.40 and a two-hundred day moving average price of $32.23. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -42.84, a PEG ratio of 0.36 and a beta of 1.38. 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 (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 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%. Sell-side analysts expect that CNX Resources Co. will post 2.36 earnings per share for the current year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 directly owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.65% of the company’s stock.

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.