Vanguard Group Inc. Grows Stock Position in CNX Resources Co. (NYSE:CNX)

Vanguard Group Inc. raised its stake in CNX Resources Co. (NYSE:CNX) by 0.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,286,992 shares of the oil and gas producer’s stock after acquiring an additional 996 shares during the quarter. Vanguard Group Inc. owned approximately 10.24% of CNX Resources worth $560,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNX. Harvest Fund Management Co. Ltd acquired a new stake in CNX Resources during the fourth quarter valued at $39,000. VSM Wealth Advisory LLC acquired a new stake in shares of CNX Resources during the 4th quarter valued at about $55,000. Principal Securities Inc. increased its position in shares of 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 in the last quarter. Blue Trust Inc. lifted its holdings in CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after purchasing an additional 1,280 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in CNX Resources in the 4th quarter worth about $121,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, 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 the SEC website. Insiders own 3.10% of the company’s stock.

CNX Resources Stock Down 0.4 %

CNX stock opened at $31.50 on Tuesday. The company’s 50 day moving average is $29.87 and its two-hundred day moving average is $33.33. CNX Resources Co. has a twelve month low of $22.82 and a twelve month high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The stock has a market cap of $4.64 billion, a P/E ratio of -46.32, a PEG ratio of 0.42 and a beta of 1.26.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen initiated coverage on CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price on the stock. Mizuho dropped their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, March 13th. Finally, Morgan Stanley set a $33.00 price objective on CNX Resources and gave the stock an “underweight” rating in a research report on Wednesday, March 26th. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.69.

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.